Tenet Healthcare raises outlook as patient admissions rise

Mon Aug 4, 2014 4:42pm EDT

Aug 4 (Reuters) - Hospital operator Tenet Healthcare Corp on Monday posted a narrower quarterly net loss and raised its full-year outlook, saying patient admissions grew at near-record rates.

Tenet, the third-largest U.S. for-profit hospital chain, reported a net loss of $26 million, or 27 cents a share, in the second quarter, compared with a net loss of $50 million, or 49 cents a share, a year ago.

Second-quarter earnings before interest, tax, depreciation and amortization (EBITDA), and excluding special items, rose to $460 million from $336 million a year ago.

Tenet raised its outlook for 2014 EBITDA, excluding onetime items, to a range of $1.85 billion to $1.95 billion, from its previous forecast of $1.8 billion to $1.9 billion. (Reporting by Susan Kelly in Chicago; Editing by Jonathan Oatis)