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Tenet Healthcare (THC) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
Tenet Healthcare (THC) reported revenue of $5.2B for the first quarter 2025 (Q1 2025), -3% from a year earlier and +3% from the quarter before. Operating margin was 18.1%, net earnings $406M (7.8% of revenue).
Tenet Healthcare, Q1 2025: revenue $5.2B (-3% year over year), operating margin 18.1%, net earnings $406M, operating cash flow $815M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.2B | +3% | -3% |
| Operating profit | $943M | +15% | -71% |
| Net earnings | $406M | +28% | -81% |
| Operating cash flow | $815M | — | +39% |
| Free cash flow | $642M | — | +86% |
What changed
Revenue was $5.2B in Q1 2025, down 3% year over year and up 3% from the previous quarter.
Operating profit was $0.94B, a 18.1% margin (down 43.1 points year over year). Total costs grew 105% against a revenue fall of 3%. Net earnings were $0.41B, down 81% year over year. The effective tax rate was 18.7%.
Operating cash flow was $0.81B (up 39% year over year), 131% of net income including minority interests. Non-cash charges added back $0.21B of depreciation and amortization and $0.02B of share-based compensation. After purchases of property and equipment ($0.17B), free cash flow as the company reports it was $0.64B.
Questions
What was Tenet Healthcare's revenue in the first quarter 2025?
Tenet Healthcare (THC) reported revenue of $5.2B for the first quarter 2025 (Q1 2025), -3% from a year earlier and +3% from the quarter before.
Was Tenet Healthcare profitable in the first quarter 2025?
Operating profit was $943M (18.1% of revenue) and net earnings $406M.
Source: Tenet Healthcare 10-Q on SEC EDGAR.