Tenet Healthcare posts first-quarter net loss

April 30 Tue Apr 30, 2013 8:46am EDT

April 30 (Reuters) - Tenet Healthcare Corp on Tuesday posted a first-quarter net loss on a decline in admissions, becoming the latest U.S. hospital operator to report a slowdown in patient visits.

Tenet confirmed its outlook for full-year 2013 adjusted earnings before tax, interest, depreciation and amortization of $1.325 billion to $1.425 billion.

Tenet, the No. 3 for-profit U.S. hospital chain, said its first-quarter net loss was $88 million, or 85 cents a share, compared with net income of $58 million, or 53 cents a share, a year earlier.

First-quarter adjusted EBITDA was $274 million, a decrease of $36 million from a year before.

Adjusted admissions declined 2.5 percent in the quarter, compared with a year before.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.