Tenet Healthcare Corporation (THC) stock experienced a significant drop of 6.86% in the pre-market session on Wednesday. The healthcare company reported its fourth-quarter 2024 financial results, which fell short of analysts' expectations on the revenue front, potentially contributing to the stock's plummet.
According to the earnings report, Tenet Healthcare's revenue for the quarter declined 5.7% year-over-year to $5.07 billion, missing the consensus estimate of $5.17 billion. The company attributed the revenue decline to the divestiture of 14 hospitals in the previous year.
Additionally, Tenet Healthcare's outlook for fiscal year 2025 failed to impress investors. The company forecasted revenue in the range of $20.6 billion to $21 billion, lower than analysts' expectations of $21.25 billion. While the company's adjusted earnings per share guidance of $11.74 to $12.84 exceeded analysts' estimates of $11.42, the disappointing revenue outlook appears to have overshadowed the positive earnings guidance.
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