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Tenet Healthcare (THC) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 29, 2026
Tenet Healthcare (THC) reported revenue of $5.6B for the second quarter 2026 (Q2 2026), +7% from a year earlier and +5% from the quarter before. Operating margin was 26.7%, net earnings $826M (14.7% of revenue).
Tenet Healthcare, Q2 2026: revenue $5.6B (+7% year over year), operating margin 26.7%, net earnings $826M, operating cash flow $585M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.6B | +5% | +7% |
| Operating profit | $1.5B | +16% | +82% |
| Net earnings | $826M | +18% | +187% |
| Operating cash flow | $585M | -64% | -38% |
| Free cash flow | $417M | — | — |
What changed
Revenue was $5.6B in Q2 2026, up 7% year over year and up 5% from the previous quarter.
Operating profit was $1.5B, a 26.7% margin (up 11.1 points year over year). Of the extra revenue versus Q2 2025, 190% reached operating profit, above the 16% margin then. Total costs fell 7% while revenue rose 7%. Net earnings were $0.83B, up 187% year over year. The effective tax rate was 22.0%.
Operating cash flow was $0.58B (down 38% year over year), 56% of net income including minority interests. Non-cash charges added back $0.21B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.72B. After purchases of property and equipment ($0.17B), free cash flow as the company reports it was $0.42B.
Questions
What was Tenet Healthcare's revenue in the second quarter 2026?
Tenet Healthcare (THC) reported revenue of $5.6B for the second quarter 2026 (Q2 2026), +7% from a year earlier and +5% from the quarter before.
Was Tenet Healthcare profitable in the second quarter 2026?
Operating profit was $1.5B (26.7% of revenue) and net earnings $826M.
Source: Tenet Healthcare 10-Q on SEC EDGAR.