Tenet Forecasts Higher Earnings for Next Two Years

Features Reuters

Hospital operator Tenet Healthcare Corp said on Monday it expects earnings to rise in 2012 and 2013.

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In a press release ahead of an investor presentation, the company projected 2012 adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in a range of $1.2 billion to $1.3 billion.

Tenet, the third-largest hospital operator, also confirmed its prior outlook for 2013 adjusted EBITDA of a range of $1.335 billion to $1.535 billion.

Analysts are looking for EBITDA of $1.24 billion in 2012 and $1.3 billion in 2013, according to Thomson Reuters I/B/E/S.

The company also said it saw a slight increase in admissions in the fourth quarter of 2011.