Tenet Heathcare Shares Down 8% After Results

By Markets MarketWatch Pulse

Tenet Healthcare Corp. reported Monday a net loss of $97 million, or 98 cents a share, in the fourth quarter, versus a net income of $61 million, or 61 cents a share, in the year-ago period. The company reported adjusted net income from continuing operations of $35 million, or 35 cents a share, in the quarter. Revenue hit $5.03 billion, up from $4.46 billion a year ago. Analysts polled by FactSet had expected the company to report adjusted earnings of 34 cents a share on sales of $4.8 billion in the quarter. Tenet said it expects revenue between $18.8 billion and $19.2 billion for full-year 2016, and adjusted earnings of $1.18 a share to $2.25 a share for the year. The FactSet analysts expect sales of $19 billion for 2016. Shares of Tenet retreated 8.5% in late trading Monday after ending the day up 7%.

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