Tenet Healthcare quarterly revenue fell for the first time in six years missing estimates, hurt by weak demand and the hospital operator forecast lower-than-expected full year earnings.
Tenet’s shares fell more than 11 percent in premarket trading on Tuesday.
The third-largest for-profit U.S. hospital operator, which had long-term debt of about $15 billion as of Dec. 31, has been cutting costs and selling hospitals, focusing on raising its hospital unit margins to turn its business around.
