May 5 Tenet Healthcare Corp on Monday
posted a first-quarter loss, hurt by cuts in Medicare payments
to hospitals and other providers, but confirmed its full-year
2014 outlook as admissions to its facilities rose.
Dallas-based Tenet, the third-largest U.S. for-profit
hospital chain, reported a net loss of $32 million, or 33 cents
a share, compared with a net loss of $88 million, or 85 cents a
share, a year ago.
Tenet said it recorded a loss from continuing operations,
excluding costs for restructuring, acquisition, litigation and
debt retirement, of $12 million, or 12 cents a share, compared
with income of $34 million, or 33 cents a share, in the same
period a year ago.
On that basis, analysts had expected a loss of 14 cents a
share, according to Thomson Reuters I/B/E/S.
Tenet confirmed its forecast for 2014 earnings before
interest, tax, depreciation and amortization, excluding one-time
items, in a range of $1.8 billion to $1.9 billion.
(Reporting by Susan Kelly in Chicago; Editing by David