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EX - 99.12 thc - 20210331ex991earningsr.htm EX - 99.1 Exhibit 99.1 Tenet Health • • • • • • • Tenet Reports First Quarter 2021 Results ; Raises 2021 Financial Guidance Net income from continuing operations available to common shareholders in 1Q21 of $ 97 million versus net income from continuing operations of $ 94 million in 1Q20 ; the 2020 quarter included a $ 91 million income tax benefit associated with a change in the deductibility of interest expense Consolidated Adjusted EBITDA in 1Q21 of $ 740 million excluding $ 37 million of COVID stimulus grant income , or $ 777 million including the grant income , versus $ 585 million in 1Q20 Diluted earnings per share from continuing operations available to common shareholders in 1Q21 of $ 0.90 compared to $ 0.89 in 1Q20 ; Adjusted diluted earnings per share from continuing operations of $ 1.30 in 1Q21 compared to $ 1.28 in 1Q20 Net cash from operating activities of $ 534 million in 1Q21 versus $ 129 million in 1Q20 . Free cash flow of $ 413 million in 1Q21 compared to $ ( 53 ) million in 1Q20 Hospital segment net patient service revenue per adjusted admission up 19.3 % on a same - hospital basis versus 1Q20 ; Ambulatory segment same - facility system - wide revenue per surgical case up 4.8 % versus the prior year's quarter Completed early retirement of $ 478 million of 7 % senior unsecured debt in March 2021 resulting in annual cash interest payment savings of ~ $ 33 million Signed new multi - year agreement with UnitedHealthcare four months prior to scheduled renewal date FY 2021 Outlook increased ; continues to anticipate recovery from the pandemic and growth from operational improvements : ° ° ° DALLAS Net income from continuing operations available to common shareholders Outlook of $ 2.98 to $ 4.69 per diluted share ( previously $ 2.09 to $ 3.81 per diluted share ) Adjusted EBITDA Outlook of $ 3.000 billion to $ 3.200 billion ( previously $ 2.900 billion to $ 3.100 billion ) Adjusted diluted earnings per share Outlook of $ 4.12 to $ 5.46 ( previously $ 3.52 to $ 4.81 per diluted share ) - April 20 , 2021 - - - Tenet Healthcare Corporation ( Tenet ) ( NYSE : THC ) today announced its results for the quarter ended March 31 , 2021 ( 1Q21 ) . Tenet's results for 1Q21 versus the quarter ended March 31 , 2020 ( 1Q20 ) are as follows :