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Close of Nov 06, 2026 · end-of-day data
THC 8-K filings in 2025
Every material Form 8-K Tenet Health filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Stephen H. Rusckowski notified Tenet Healthcare on November 21, 2025 that he is resigning from the company's board of directors, effective immediately. The board reduced its size from thirteen to twelve directors in connection with the departure. The filing does not state a reason for the resignation or name a replacement.
Resignation notified to Tenet on November 21, 2025, effective immediately
Board size reduced from thirteen to twelve directors
Filing does not give a reason for the resignation or name a successor
Tenet Healthcare issued $1.5 billion of 5.500% senior secured first lien notes due 2032 and $750 million of 6.000% senior notes due 2033 on November 18, 2025. The company plans to use the net proceeds, with cash on hand, to redeem its $1.5 billion 6.250% second lien notes due February 2027 and partially redeem $0.75 billion of its 6.125% senior notes due October 2028. The new notes add debt obligations, but the deal refinances existing borrowings with new maturities.
First lien notes: $1.5 billion at 5.500%, due 2032
Senior notes: $750 million at 6.000%, due 2033
Proceeds plus cash on hand to redeem $1.5 billion 6.250% second lien notes due February 2027
Partial redemption of $0.75 billion 6.125% senior notes due October 2028
Tenet Healthcare entered a $1.9 billion senior secured revolving credit facility dated November 4, 2025, with JPMorgan Chase Bank as administrative agent, secured by first-priority liens on certain receivables and inventory. The company also extended its $200 million letter of credit facility to November 4, 2030. The filing describes a new borrowing arrangement and debt maturity extension rather than a change in reported results.
Revolving credit facility of up to $1.9 billion, with a $200 million sub-facility for letters of credit, maturing November 4, 2030, subject to springing maturity provisions
Facility is secured by first-priority liens on accounts receivable and inventory of Tenet and certain subsidiary guarantors
Letter of credit facility with Barclays Bank PLC extended from March 16, 2027 to November 4, 2030
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.
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
Tenet Healthcare reported second quarter 2025 net income available to common shareholders of $288 million, or $3.14 per diluted share, up from $259 million, or $2.64, a year earlier. The company raised its full-year 2025 Adjusted EBITDA outlook to $4.40 billion to $4.54 billion and authorized a $1.5 billion increase to its share repurchase program.
Q2 2025 net operating revenues were $5.271 billion, up from $5.108 billion in Q2 2024.
Q2 2025 Adjusted EBITDA was $1.121 billion, up 18.6% from $945 million, and included a $79 million favorable pre-tax Medicaid supplemental revenue impact in the Hospital segment.
FY 2025 Adjusted EBITDA outlook is $4.40 billion to $4.54 billion, a $395 million increase at the midpoint.
The Board authorized a $1.5 billion increase to the repurchase program, leaving $1.781 billion available as of July 22, 2025.
Tenet Healthcare promoted Lisa Y. Foo to the newly created position of Chief Operating Officer, effective immediately as of May 30, 2025, and disclosed the change in a June 5, 2025 8-K filing. The filing gives no compensation terms or details of her responsibilities, and it points to the April 11, 2025 proxy statement for her background.
Lisa Y. Foo was promoted to Chief Operating Officer on May 30, 2025, effective immediately.
The COO role is newly created within Tenet Healthcare Corporation.
Foo's biographical information is in the company's definitive proxy statement filed April 11, 2025.
The 8-K was signed by Thomas Arnst, Executive Vice President, Chief Administrative Officer, General Counsel and Corporate Secretary.
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.
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.
Tenet Healthcare reported fourth quarter 2024 results and issued its full year 2025 outlook. Fourth quarter net income available to common shareholders rose to $318 million, or $3.32 per diluted share, from $244 million, or $2.30, a year earlier, while net operating revenues fell 5.7% to $5.072 billion, reflecting hospital divestitures.
Q4 2024 adjusted diluted EPS was $3.44, versus $2.68 in Q4 2023
Q4 2024 Adjusted EBITDA was $1.048 billion, versus $1.012 billion in Q4 2023
FY 2025 Adjusted EBITDA outlook is $3.975 billion to $4.175 billion, with net operating revenues of $20.6 billion to $21.0 billion
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Tenet Health filing is on SEC EDGAR ↗. 8-K briefs of other companies →