Company: THC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000070318-25-000039
Chunk: 90

Company: TENET HEALTHCARE CORP
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 90
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 net operating revenues decreased by 50 basis points to 23.3% for the three months ended June 30, 2025 compared to 23.8% for the three months ended June 30, 2024.

Same‑hospital other operating expenses increased by $79 million, or 4.5%, in the six months ended June 30, 2025 compared to the same period in 2024. This increase was primarily attributable to the same factors discussed above. Same‑hospital other operating expenses as a percentage of net operating revenues decreased by 40 basis points to 22.8% for the six months ended June 30, 2025 compared to 23.2% for the six months ended June 30, 2024.

Ambulatory Care Segment

The following table presents selected revenue and expense information for our Ambulatory Care segment:

 Three Months EndedJune 30,Increase(Decrease)Six Months EndedJune 30,Increase(Decrease)2025202420252024Net operating revenues$1,270 $1,141 11.3 %$2,464 $2,136 15.4 %Equity in earnings of unconsolidated affiliates$59 $58 1.7 %$113 $114 (0.9)%Salaries, wages and benefits$314 $284 10.6 %$609 $521 16.9 %Supplies$332 $299 11.0 %$650 $573 13.4 %Other operating expenses, net$185 $169 9.5 %$364 $315 15.6 %

Revenues

Our Ambulatory Care segment’s net operating revenues increased by $129 million, or 11.3%, during the three months ended June 30, 2025 compared to the same period in 2024. The change was driven by an $84 million increase in same‑facility net operating revenues, reflecting higher net revenue per case, as well as a $45 million increase from our recent acquisitions, net of the impact of the closure and sale of certain facilities.

Net operating revenues increased by $328 million, or 15.4%, during the six months ended June 30, 2025 compared to the same period in 2024. The change was driven by a $169 million increase in same‑facility net operating revenues, reflecting higher