Company: THC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000070318-25-000017
Chunk: 58

Company: TENET HEALTHCARE CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 58
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 Months Ended March 31,Increase(Decrease)Revenues20252024Hospital Operations$4,029 $4,373 (7.9)%Ambulatory Care1,194 995 20.0 %Total$5,223 $5,368 (2.7)%

Consolidated net operating revenues decreased by $145 million, or 2.7%, in the three months ended March 31, 2025 compared to the same period in 2024. The decrease of $344 million, or 7.9%, in our Hospital Operations segment’s net operating revenues for the three‑month period in 2025 compared to the same period in 2024 was primarily due to the sales of the Divested Hospitals, partially offset by the positive impact of a more favorable payer mix, higher patient volume and acuity, and negotiated commercial rate increases in the 2025 period.

Net operating revenues in our Ambulatory Care segment increased by $199 million, or 20.0%, in the three months ended March 31, 2025 compared to the same period in 2024. This change was primarily driven by our newly acquired ASCs, net of the impact of the closure and deconsolidation of certain facilities, as well as higher net revenue per case in the 2025 period.

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The following table presents information about selected operating expenses by segment on a continuing operations basis:

 Three Months Ended March 31,Increase(Decrease)20252024Hospital Operations:Salaries, wages and benefits$1,824 $2,084 (12.5)%Supplies589 654 (9.9)%Other operating expenses911 1,008 (9.6)%Total$3,324 $3,746 (11.3)%Ambulatory Care:   Salaries, wages and benefits$295 $237 24.5 %Supplies318 274 16.1 %Other operating expenses179 146 22.6 %Total$792 $657 20.5 %Total:   Salaries, wages and benefits$2,119 $2,321 (8.7)%Supplies907 928 (2.3)%Other operating expenses1,090 1,154 (5.5)%Total$4,116 $4,403 (6.5)%Rent/lease expense(1):   Hospital Operations