Tenet Q1 adjusted EPS rises 35% to $4.36; revenue falls 2.7% to $5.22 billion
Tenet Healthcare reported first quarter 2025 results on April 29, 2025. Adjusted diluted EPS rose 35.4% to $4.36 and Adjusted EBITDA rose 13.6% to $1.163 billion, while net operating revenues fell 2.7% to $5.223 billion and net income available to common shareholders fell to $406 million from $2.151 billion, a period that included a $2.5 billion pre-tax divestiture gain. The company also issued a full-year 2025 Adjusted EBITDA outlook of $3.975 billion to $4.175 billion and repurchased 2,629,195 shares for $348 million.
Key points
- Net income available to common shareholders was $406 million, or $4.27 per diluted share, versus $2.151 billion, or $21.38, in Q1 2024, which included a $2.5 billion pre-tax gain tied to hospital divestitures.
- Adjusted diluted EPS rose 35.4% to $4.36 from $3.22 in the prior-year quarter.
- Net operating revenues fell 2.7% to $5.223 billion from $5.368 billion; Adjusted EBITDA rose 13.6% to $1.163 billion.
- FY 2025 Adjusted EBITDA outlook is $3.975 billion to $4.175 billion; the filing does not state a prior outlook for comparison.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 29, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.