Earnings Report: Tenet Healthcare Corp. Reports Q2 Net Income of $25M; Up from Loss Last Year

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Tenet Healthcare Corp. (NYSE:THC) posted Q2 earnings before the opening bell Tuesday morning, reporting an 8.9% year-over-year boost to adjusted EBITDA of $268 million. Net income attributable to common shareholders was $25 million, or $0.05 per share, versus a net loss of $15 million, or $0.03 per share during Q2 2009. Continuing operations EPS was $0.07, up $0.06 year-over-year. president and CEO Trevor Fetter commented, "Our earnings power continued to grow as we successfully converted an admissions decline of 2.0 percent into revenue growth of 3.3 percent and adjusted EBITDA growth of 8.9 percent, This progression demonstrates our ability to address the challenges presented by the continuing soft macroeconomic environment to produce meaningful growth in value." SmarTrend alerted subscribers to take profits in Tenet Healthcare on May 21, 2010 at $5.25; since then the stock fell 12.6%. Tenet Healthcare is currently below its 50-day moving average (MA) of $4.77 and below its 200-day MA of $5.35. In the last five trading sessions, the 50-day MA has fallen 2.01% while the 200-day MA has slid 0.69%. Shares of the hospital operator closed Monday's trading session at $4.59.