Filing Flows › Tenet Healthcare (THC) › Q1 2026
Tenet Healthcare (THC) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Tenet Healthcare (THC) reported revenue of $5.4B for the first quarter 2026 (Q1 2026), +3% from a year earlier and -3% from the quarter before. Operating margin was 24.1%, net earnings $702M (13.1% of revenue).
Tenet Healthcare, Q1 2026: revenue $5.4B (+3% year over year), operating margin 24.1%, net earnings $702M, operating cash flow $1.6B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.4B | -3% | +3% |
| Operating profit | $1.3B | +52% | +37% |
| Net earnings | $702M | +89% | +73% |
| Operating cash flow | $1.6B | +124% | +101% |
| Free cash flow | $1.5B | — | +128% |
What changed
Revenue was $5.4B in Q1 2026, up 3% year over year and down 3% from the previous quarter.
Operating profit was $1.3B, a 24.1% margin (up 6.1 points year over year). Of the extra revenue versus Q1 2025, 243% reached operating profit, above the 18% margin then. Total costs fell 5% while revenue rose 3%. Net earnings were $0.70B, up 73% year over year. The effective tax rate was 20.0%.
Operating cash flow was $1.6B (up 101% year over year), 181% of net income including minority interests. Non-cash charges added back $0.23B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.48B. After purchases of property and equipment ($0.18B), free cash flow as the company reports it was $1.5B.
Questions
What was Tenet Healthcare's revenue in the first quarter 2026?
Tenet Healthcare (THC) reported revenue of $5.4B for the first quarter 2026 (Q1 2026), +3% from a year earlier and -3% from the quarter before.
Was Tenet Healthcare profitable in the first quarter 2026?
Operating profit was $1.3B (24.1% of revenue) and net earnings $702M.
Source: Tenet Healthcare 10-Q on SEC EDGAR.