Tenet Healthcare Reports Revenue Increase to $5.271 Billion in Q2 2025

Tenet Healthcare Corporation reported a modest increase in financial performance for the second quarter of 2025, with net operating revenues reaching $5.271 billion, up from $5.108 billion in the same period of 2024. The company's operating income also saw a rise, totaling $823 million compared to $761 million a year earlier. However, net income available to common shareholders decreased to $288 million, or $3.16 per share, down from $259 million, or $2.66 per share, in the prior year. For the first half of 2025, net operating revenues were $10.494 billion, slightly higher than the $10.476 billion reported in the first half of 2024.

The financial results reflect significant changes compared to the previous fiscal period, particularly in the Ambulatory Care segment, which experienced a revenue increase of 11.3% to $1.270 billion, driven by recent acquisitions and higher net revenue per case. In contrast, the Hospital Operations segment reported a modest revenue increase of 0.9% to $4.001 billion, attributed to a favorable payer mix and higher patient acuity, despite the impact of divestitures of several hospitals in 2024.

Operationally, Tenet Healthcare's total admissions decreased by 6.1% to 116,963 in the second quarter, while adjusted admissions fell by 7.2%. The decline in admissions was primarily linked to the divestiture of certain facilities, although same-hospital admissions showed some resilience. The Ambulatory Care segment, however, reported a 17.2% increase in total consolidated cases, reflecting growth from recent acquisitions and service line expansion. The company operated 49 hospitals and 134 outpatient facilities as of June 30, 2025, with a total of 521 ambulatory surgery centers.

In terms of strategic developments, Tenet Healthcare continued to focus on expanding its Ambulatory Care segment through acquisitions and organic growth. The company repurchased $1.095 billion of its common stock in the first half of 2025 as part of its ongoing share repurchase program, which has been authorized for up to $1.500 billion. Looking ahead, Tenet anticipates continued challenges in the healthcare landscape, including potential impacts from the recently enacted One Big Beautiful Bill Act, which may affect Medicaid funding and enrollment. The company remains committed to improving operational efficiency and profitability while navigating these evolving market conditions.