Tenet Healthcare Corporation filed its Form 10-Q for the quarterly period ended September 30, 2026, with the Securities and Exchange Commission on October 29, 2026, reporting net income of $1.219 billion for the third quarter and disclosing $646 million in revenue from a contract termination.

Key Highlights

  • Q3 net operating revenues: $5.631 billion for the three months ended September 30, 2026, up from $5.289 billion in the same period of 2025, according to the filing.
  • Contract termination revenue: The company reported $646 million in revenue from contract termination for Q3 2026, and $1.472 billion for the nine months ended September 30, 2026, compared to zero in both prior-year periods.
  • Q3 net income: $1.219 billion total net income, with $1.000 billion available to Tenet common shareholders, versus $342 million in Q3 2025.
  • Diluted earnings per share: $12.41 for Q3 2026, compared to $3.86 in Q3 2025; nine-month diluted EPS was $30.08 versus $11.28 in the prior-year period.
  • Share repurchases: The filing reported $1.615 billion in repurchases of common stock for the nine months ended September 30, 2026, versus $1.188 billion in the same period of 2025.
  • Shares outstanding: As of October 23, 2026, there were 79,588 thousand shares of common stock outstanding.
  • Total assets: $31.592 billion at September 30, 2026, compared to $29.677 billion at December 31, 2025.

Tenet Healthcare's Third-Quarter 2026 Financial Results and Balance Sheet Position

According to the Form 10-Q filed with the SEC, Tenet Healthcare Corporation (NYSE:THC) reported net operating revenues of $5.631 billion for the three months ended September 30, 2026, and $16.627 billion for the nine months ended September 30, 2026. A notable item in the period was revenue from contract termination of $646 million in Q3 2026 and $1.472 billion year-to-date, line items that carried no corresponding amount in the 2025 comparative periods.

Operating income for Q3 2026 was $1.750 billion, compared to $889 million in Q3 2025, as disclosed in the condensed consolidated statements of operations. Key operating expense categories included salaries, wages and benefits of $2.173 billion and supplies of $983 million for the quarter. The company also recorded a $5 million loss from early extinguishment of debt in Q3 2026. Income tax expense for the quarter was $360 million, resulting in net income of $1.219 billion; after deducting $219 million attributable to noncontrolling interests, $1.000 billion was available to Tenet common shareholders.

On the balance sheet, total assets grew to $31.592 billion at September 30, 2026, from $29.677 billion at December 31, 2025, with goodwill increasing to $11.641 billion from $11.198 billion over that period. Long-term debt, net of current portion, was $13.079 billion. The filing also noted that treasury shares rose to 79,650 thousand at September 30, 2026, from 71,660 thousand at December 31, 2025, reflecting the ongoing share repurchase activity. Net cash provided by operating activities for the nine months ended September 30, 2026, was $3.507 billion, compared to $2.809 billion in the prior-year period.

What Was Disclosed

Tenet Healthcare filed its quarterly report covering the period ended September 30, 2026, disclosing Q3 net income of $1.219 billion, diluted EPS of $12.41, $646 million in contract termination revenue, total assets of $31.592 billion, and $1.615 billion in year-to-date share repurchases.