Tenet raises 2025 EBITDA outlook as Q3 adjusted EPS rises 26.3% to $3.70
Tenet Healthcare reported third quarter 2025 revenue of $5.289 billion, up 3.2% from a year earlier, and adjusted diluted EPS of $3.70, up 26.3%. GAAP net income available to common shareholders fell to $342 million from $472 million, mainly because the prior-year quarter included a $348 million pre-tax gain on the Brookwood Baptist Health sale. The company raised its full-year 2025 Adjusted EBITDA outlook to $4.47 billion to $4.57 billion, a $50 million increase at the midpoint.
Key points
- Q3 2025 net operating revenues were $5.289 billion, up from $5.126 billion; Adjusted EBITDA rose 12.4% to $1.099 billion
- Q3 2025 diluted EPS was $3.86 versus $4.89 a year earlier; adjusted diluted EPS was $3.70 versus $2.93
- FY 2025 Adjusted EBITDA outlook is $4.47 billion to $4.57 billion, a $50 million increase at the midpoint
- Nine-month free cash flow was $2.163 billion; the company repurchased $93 million of stock in Q3 2025
The filing
Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing 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 October 28, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.