Tenet Healthcare — Third Quarter 2026 Earnings Summary

Tenet Healthcare reported a net income of $1.000 billion for the third quarter of 2026, representing a significant increase from $342 million in the same period of 2025. Adjusted diluted earnings per share rose 79.5% to $6.64, while consolidated adjusted EBITDA increased 23.3% to $1.355 billion, driven by strong same-store revenue growth and effective expense management. The company raised its full-year 2026 adjusted EBITDA outlook to a range of $5.05 billion to $5.20 billion and adjusted free cash flow outlook to $2.825 billion to $3.125 billion. These results include a $147 million favorable net impact from the early transition of revenue cycle management services under agreements with CommonSpirit Health.