Exhibit 99.1

 

LOGO

Tenet Reports Results for the Fourth Quarter Ended December 31,

2015 and Issues Outlook for 2016

 

    Generated Adjusted EBITDA of $2.276 billion and Adjusted diluted EPS of $2.05 during calendar year 2015. During the fourth quarter, Tenet generated Adjusted EBITDA of $613 million and Adjusted diluted EPS of $0.35.

 

    Issued 2016 Outlook, which includes Adjusted EBITDA of $2.4 billion to $2.5 billion.

 

    After normalizing for timing differences related to the California Provider Fee, same-hospital patient revenue increased 3.6% in the fourth quarter, with adjusted admissions increasing 0.3% and revenue per adjusted admission increasing 3.2%.

 

    Ambulatory segment revenue increased 12.5% on a pro forma same-facility system-wide basis in the fourth quarter, with cases increasing 6.9% and revenue per case increasing 5.2%; on a pro forma basis, Adjusted EBITDA increased 17.9% to $158 million.

 

    Conifer’s total revenue increased 18.4% in 2015 with revenue from third parties increasing 24.1%. Conifer generated $265 million of Adjusted EBITDA in 2015, up 30.5% from 2014. In the fourth quarter, Conifer generated $61 million of Adjusted EBITDA.

 

    Adjusted Free Cash Flow increased to $405 million in 2015, up from a $55 million outflow in 2014. Tenet’s Outlook for Adjusted Free Cash Flow in 2016 is $400 million to $600 million and additional improvements are anticipated in 2017.

 

    Tenet reported a net loss attributable to common shareholders of $140 million or $1.41 per diluted share in 2015. During the fourth quarter, Tenet reported a net loss attributable to common shareholders of $97 million or $0.98 per diluted share. These losses include a $218 million increase in litigation reserves ($184 million after-tax or $1.86 per diluted share), which is described further below.

DALLAS – February 22, 2016 –

Tenet Healthcare Corporation (NYSE:THC) reported Adjusted EBITDA of $613 million for the fourth quarter of 2015, a decrease of $33 million, or 5.1 percent, compared to $646 million in the fourth quarter of 2014. After normalizing for timing differences related to the California Provider Fee program, Adjusted EBITDA increased $91 million or 17.4 percent.

“We delivered Adjusted EBITDA at the midpoint of our Outlook for the fourth quarter and are on a path to deliver strong growth in Adjusted EBITDA and improved Adjusted Free Cash Flow in 2016,” said Trevor Fetter, chairman and chief executive officer. “Similar to our results in the third quarter, we experienced pressure on lower acuity inpatient hospital admissions and continued to drive increases in higher-acuity admissions. Our Conifer Health Solutions and United Surgical Partners subsidiaries performed well, with Conifer meeting our expectations and USPI delivering stronger-than-expected results in the fourth quarter.”

 

Page 1


The following information was filed by Tenet Healthcare Corp (THC) on Monday, February 22, 2016 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