Exhibit 99.1

LOGO

Tenet Reports Fourth Quarter 2010 Results

Earnings of $0.14 per diluted share in Q4’10, compared to $0.04 in Q4’09

Company Confirms 2011 Outlook

Fourth Quarter 2010 Key Metrics

 

   

Net income attributable to common shareholders of $74 million in Q4’10, compared to $21 million in Q4’09, an increase of 252 percent

 

   

Adjusted EBITDA of $281 million in Q4’10, compared to $218 million in Q4’09, an increase of 28.9 percent

 

   

Adjusted EBITDA margin of 12.2 percent in Q4’10, compared to 9.6 percent in Q4’09, an increase of 260 basis points

2010 Key Metrics

 

   

Net income attributable to common shareholders of $1.119 billion in 2010, compared to $181 million in 2009 (2010 net income included the recognition of $1.043 billion of tax benefits)

 

   

Earnings of $2.04 per diluted share in 2010, compared to $0.37 per diluted share in 2009

 

   

Adjusted EBITDA of $1.050 billion in 2010, compared to $982 million in 2009, an increase of 6.9 percent

 

   

Adjusted EBITDA margin of 11.4 percent in 2010, compared to 10.9 percent in 2009, an increase of 50 basis points

Subsequent Events in Q1’11

 

   

California Provider Fee Program received CMS final approval on January 18, 2011

 

   

$64 million will be recorded in net revenue in Q1’11

DALLAS – Feb. 25, 2011 – Tenet Healthcare Corporation (NYSE:THC) today reported adjusted EBITDA of $281 million for the fourth quarter ended December 31, 2010, an increase of $63 million, or 28.9 percent, compared to $218 million for the fourth quarter of 2009. Net income attributable to common shareholders for the fourth quarter of 2010 was $74 million, or $0.14 per diluted share, compared to $21 million, or $0.04 per diluted share, for the fourth quarter of 2009.

“Our volume trends showed significant improvement in November and December compared to the first ten months of the year. Those strengthening trends have continued into January and February 2011. In the fourth quarter of 2010 we achieved a 3.2 percent increase in paying outpatient visits compared to 2009’s fourth quarter. Strong pricing growth and continued excellent cost performance also contributed to a solid quarter. Our full year 2010 adjusted EBITDA of $1.05 billion is the highest in seven years, and the seventh consecutive year of EBITDA growth. Our adjusted EBITDA margin of 12.2 percent in the fourth quarter is the highest fourth quarter margin we’ve reported in seven years, and our full year 2010 margin of 11.4 percent is the highest in seven years,” said Trevor Fetter, president and chief executive officer. “We are reconfirming our 2011 outlook for adjusted EBITDA in a range of $1.150 billion to $1.250 billion and we are introducing our 2011 outlook for net cash provided by operating activities in the range of $570 million to $740 million.”

Discussion of Results (Percentage changes compare Q4’10 to Q4’09, unless otherwise noted.)

Admissions and paying admissions declined by 2.0 percent and 2.2 percent, respectively. These declines were smaller than the respective declines of 3.5 percent and 3.9 percent in the sequential third quarter of 2010. Outpatient visits and paying outpatient visits increased by 2.9 and 3.2 percent, respectively compared to the fourth quarter of 2009. Adjusted admissions increased by 0.4 percent compared to the fourth quarter of 2009.

Net operating revenues were $2.301 billion, an increase of $40 million, or 1.8 percent, compared to net operating revenues of $2.261 billion in the fourth quarter of 2009. Net patient revenues per adjusted patient day increased by 2.4 percent.


The following information was filed by Tenet Healthcare Corp (THC) on Friday, February 25, 2011 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.

View differences made from one year to another to evaluate Tenet Healthcare Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Tenet Healthcare Corp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account