Tenet Healthcare Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Tenet Healthcare Corp. filed its Q1 2024 10-Q, providing a financial snapshot of its hospital and ambulatory care operations.</b>

AI Summary

TENET HEALTHCARE CORP (THC) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. Tenet Healthcare Corp. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business is operating hospitals and ambulatory surgical centers. Key segments include Hospital Operations and Ambulatory Care. The report details financial information as of March 31, 2024, and comparative periods.

Why It Matters

For investors and stakeholders tracking TENET HEALTHCARE CORP, this filing contains several important signals. This filing provides investors with the latest financial performance data for Tenet Healthcare, crucial for assessing its current operational health and future prospects. Understanding the segment performance (Hospital Operations, Ambulatory Care) detailed in the 10-Q is key to identifying growth drivers and potential challenges within Tenet's business model.

Risk Assessment

Risk Level: medium — TENET HEALTHCARE CORP shows moderate risk based on this filing. The filing is a standard 10-Q, which provides a snapshot of financial health but does not contain forward-looking statements or significant strategic shifts that would indicate immediate high risk. However, the healthcare industry is subject to regulatory and operational risks.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand Tenet Healthcare's operational results for Q1 2024 and identify any trends or significant changes.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-04-30 — Filing Date (FILED AS OF DATE)
• 109 — Public Document Count (PUBLIC DOCUMENT COUNT)
• 001-07293 — SEC File Number (SEC FILE NUMBER)

Key Players & Entities

• TENET HEALTHCARE CORP (company) — FILER
• 0000070318 (company) — CENTRAL INDEX KEY
• 8062 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• NV (company) — STATE OF INCORPORATION
• 469-893-2200 (dollar_amount) — BUSINESS PHONE
• NATIONAL MEDICAL ENTERPRISES INC (company) — FORMER COMPANY
• 19920703 (dollar_amount) — DATE OF NAME CHANGE
• 2024-03-31 (dollar_amount) — CONFORMED PERIOD OF REPORT

FAQ

Risk Factors

• Regulatory Environment [medium — regulatory]: The healthcare industry is subject to extensive government regulation, including Medicare and Medicaid reimbursement rules, which can impact revenue and profitability.
• Operational Challenges [medium — operational]: The company operates hospitals and surgical centers, facing challenges related to staffing, patient volumes, and the cost of providing healthcare services.
• Financial Performance [medium — financial]: The company's financial results are influenced by factors such as reimbursement rates, patient mix, and the overall economic environment.

Key Dates

• 2024-03-31: Quarter End Date — Marks the end of the reporting period for the 10-Q filing.
• 2024-04-30: Filing Date — Date the 10-Q was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC), that gives a comprehensive overview of a company's financial performance. (Provides investors with up-to-date financial information between annual reports.)

Key Financial Figures

• $0.05 — ange on which registered Common stock, $0.05 par value THC New York Stock Exchange

Filing Documents

• thc-20240331.htm (10-Q) — 1924KB
• thc-20240331x10qxex10a.htm (EX-10.A) — 51KB
• thc-20240331x10qxex10b.htm (EX-10.B) — 56KB
• thc-20240331x10qxex31a.htm (EX-31.A) — 10KB
• thc-20240331x10qxex31b.htm (EX-31.B) — 10KB
• thc-20240331x10qxex32.htm (EX-32) — 5KB
• image_1.jpg (GRAPHIC) — 4KB
• image_3.jpg (GRAPHIC) — 4KB
• 0000070318-24-000032.txt (&nbsp;) — 11021KB
• thc-20240331.xsd (EX-101.SCH) — 78KB
• thc-20240331_cal.xml (EX-101.CAL) — 98KB
• thc-20240331_def.xml (EX-101.DEF) — 447KB
• thc-20240331_lab.xml (EX-101.LAB) — 888KB
• thc-20240331_pre.xml (EX-101.PRE) — 676KB
• thc-20240331_htm.xml (XML) — 1799KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Financial Statements 1 Notes to Condensed Consolidated Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 4.

Controls and Procedures

Controls and Procedures 48

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 49 Item 1A.

Risk Factors

Risk Factors 49 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49 Item 5. Other Information 49 Item 6. Exhibits 50 i Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS TENET HEALTHCARE CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS Dollars in Millions, Share Amounts in Thousands (Unaudited) March 31, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 2,481 $ 1,228 Accounts receivable 3,148 2,914 Inventories of supplies, at cost 395 411 Assets held for sale 22 775 Other current assets 1,775 1,839 Total current assets 7,821 7,167 Investments and other assets 3,244 3,157 Deferred income taxes 20 77 Property and equipment, at cost, less accumulated depreciation and amortization ($ 5,908 at March 31, 2024 and $ 6,478 at December 31, 2023) 5,855 6,236 Goodwill 10,568 10,307 Other intangible assets, at cost, less accumulated amortization ($ 1,312 at March 31, 2024 and $ 1,447 at December 31, 2023) 1,399 1,368 Total assets $ 28,907 $ 28,312 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 107 $ 120 Accounts payable 1,335 1,408 Accrued compensation and benefits 775 930 Professional and general liability reserves 266 254 Accrued interest payable 249 200 Liabilities held for sale 11 69 Income tax payable 805 23 Other current liabilities 1,868 1,756 Total current liabilities 5,416 4,760 Long-term debt, net of current portion 12,772 14,882 Professional and general liability reserves 794 792 Defined benefit plan obligations 334 335 Deferred income taxes 231 326 Other long-term liabilities 1,689 1,709 Total liabilities 21,236 22,804 Commitments and contingencies Redeemable noncontrolling interests in equity of consolidated subsidiaries 2,728 2,391 Equity: Shareholders' equity: Common stock, $ 0.05 par value; authorized 262,500 shares; 157,805 shares issued at March 31, 2024 and 157,271 shares issued at December 31, 2023 8 8 Additional paid-in capital 4,806 4,834 Accumulated other comprehensive loss ( 179 ) ( 181 ) Retained earnings (accumulated deficit) 1,959 ( 192 ) Common stock in treasur

View Full Filing

View this 10-Q filing on SEC EDGAR