Exhibit 99.1
tenethealthrgb1.jpg

Tenet Reports Fourth Quarter 2020 Results;
Announces Plan to Retire $478 million of Debt;
Provides 2021 Financial Guidance
Net income from continuing operations available to common shareholders in 4Q20 of $414 million versus a net loss from continuing operations of $3 million in 4Q19

Consolidated Adjusted EBITDA in 4Q20 of $832 million excluding $446 million of COVID stimulus grant income, or $1.278 billion including the grant income, versus $799 million in 4Q19

Diluted earnings per share from continuing operations available to common shareholders in 4Q20 of $3.86 compared to a loss per share of $0.03 in 4Q19; Adjusted diluted earnings per share from continuing operations of $4.72 in 4Q20 compared to $0.95 in 4Q19

Net cash provided by operating activities of $3.407 billion in 2020 versus $1.233 billion in 2019. Free cash flow of $2.867 billion in 2020, or ~ $1.2 billion in 2020 excluding ~$1.4 billion of Medicare advances received in 2020 and ~$260 million of deferred company payroll tax match in 2020, compared to $563 million in 2019 – growth of $644 million or 114%

Hospital segment net patient service revenue per adjusted admission up 19.4% on a same-hospital basis versus 4Q19; Ambulatory segment same-facility system-wide revenue per surgical case up 5.0% versus the prior year

Transformative ambulatory surgery portfolio transaction during 4Q20 further diversifies the Company's business mix

Continued focus on strategic cost reduction measures and corporate efficiencies helped partially mitigate the impact of COVID, including the impact of lost revenues and higher costs related to the pandemic

The Company also announced today it plans to retire $478 million of 7% senior unsecured notes due 2025; expects annual interest savings of ~$33 million

FY 2021 Outlook anticipates continuing recovery from the pandemic and growth from operational improvements:
Net income from continuing operations available to common shareholders of $2.09 to $3.81 per diluted share
Adjusted EBITDA of $2.900 billion to $3.100 billion
Adjusted diluted earnings per share of $3.52 to $4.81

DALLAS — February 9, 2021 —
Tenet Healthcare Corporation (Tenet) (NYSE: THC) today announced its results for the quarter ended December 31, 2020 (4Q20).

Ronald A. Rittenmeyer, Executive Chairman and Chief Executive Officer, stated, “In 2020, we along with so many others faced challenges we had never experienced in the history of our company. Our ability to perform under such challenging and constantly evolving circumstances



The following information was filed by Tenet Healthcare Corp (THC) on Tuesday, February 9, 2021 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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