Exhibit 99.1



tenet_logo.jpg
 
Tenet Reports Results for the Fourth Quarter Ended
December 31, 2017


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Hospital segment same-hospital admissions increased 0.2%, adjusted admissions increased 1.3%, and revenue per adjusted admission increased 4.8%, resulting in same-hospital net patient revenue growth of 6.1%.
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Ambulatory Care same-facility system-wide cases increased 4.6% and revenue per case increased 2.2%, resulting in revenue growth of 6.9%.
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Conifer’s revenues decreased 2.0% with revenue from third parties flat year-over-year.
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As a result of the Tax Cuts and Jobs Act, Tenet recorded a $252 million non-cash partial write-down of the Company’s deferred tax assets and a $22 million increase in noncontrolling interest expense, which lowered net income by $274 million in the fourth quarter. In addition, the Company recorded a $99 million after-tax charge, primarily related to the write-down of assets held for sale in Chicago and employee severance. As a result, Tenet reported a net loss from continuing operations attributable to Tenet shareholders of $230 million or $2.28 per diluted share in the fourth quarter. After adjusting for these items, which totaled $373 million or $3.68 per share, Tenet reported Adjusted diluted earnings per share from continuing operations of $1.40.
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Adjusted EBITDA was $840 million in the fourth quarter, consisting of $538 million in the Hospital segment, $223 million in the Ambulatory segment and $79 million in the Conifer segment.
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Net cash provided by operating activities in 2017 was $1.200 billion, a $642 million increase when compared to $558 million in 2016. Free Cash Flow was $493 million in 2017, an $810 million increase when compared to an outflow of $317 million in 2016. Adjusted Free Cash Flow was $623 million in 2017, a $243 million increase when compared to $380 million in 2016.
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2018 Outlook has been increased to reflect net income from continuing operations attributable to Tenet common shareholders of $95 million to $105 million, Adjusted EBITDA of $2.500 billion to $2.600 billion, diluted earnings per share from continuing operations of $0.92 to $1.02 and Adjusted diluted earnings per share from continuing operations of $0.73 to $1.07.
DALLAS - February 26, 2018 -
Tenet Healthcare Corporation (NYSE: THC) reported a net loss from continuing operations attributable to Tenet shareholders of $230 million in the fourth quarter of 2017 due to the items mentioned above, compared to a $79 million net loss from continuing operations in the fourth quarter of 2016. Adjusted EBITDA was $840 million in the fourth quarter of 2017 compared to $650 million in the fourth quarter of 2016.





The following information was filed by Tenet Healthcare Corp (THC) on Monday, February 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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