Tenet Healthcare Corp. ( (THC) ) has released its Q3 earnings. Here is a breakdown of the information Tenet Healthcare Corp. presented to its investors.
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Tenet Healthcare Corporation is a diversified healthcare services company based in Dallas, operating a network of hospitals, outpatient facilities, and a large ambulatory platform through United Surgical Partners International.
In the third quarter of 2025, Tenet Healthcare reported strong financial results, with a notable increase in adjusted earnings per share and EBITDA. The company also raised its financial outlook for the year, reflecting confidence in its strategic direction and operational efficiency.
Key financial highlights include a 12.4% increase in consolidated adjusted EBITDA to $1.099 billion, driven by strong same-store revenue growth and operational discipline. The ambulatory care segment saw a 12.1% rise in adjusted EBITDA, while the hospital segment reported a 0.7% increase in net operating revenues, benefiting from higher acuity services and favorable payer mix.
The company generated significant free cash flow of $2.163 billion for the first nine months of 2025, up from $1.777 billion in the same period of 2024. Tenet also repurchased shares worth $1.188 billion, reflecting a commitment to returning value to shareholders.
Looking ahead, Tenet Healthcare is poised for continued growth, with an adjusted EBITDA outlook for 2025 in the range of $4.47 billion to $4.57 billion. The company remains focused on executing its strategy across its markets to sustain its financial momentum.

