10:03 AM EDT, 04/30/2024 (MT Newswires) -- Tenet Healthcare ( THC ) shares rose by more than 8% in recent Tuesday trading after the company reported Q1 adjusted earnings from continuing operations of $3.22 per diluted share, up from $1.42 a year earlier.

Analysts polled by Capital IQ expected $1.44.

Net operating revenue for the quarter ended March 31 was $5.37 billion, up from $5.02 billion a year earlier.

Analysts surveyed by Capital IQ expected $5.15 billion.

The company said it expects Q2 adjusted diluted EPS from continuing operations of $1.58 to $1.98. Analysts surveyed by Capital IQ expect $1.43.

The company expects net operating revenue for the quarter of $4.90 billion to $5.10 billion. Analysts polled by Capital IQ expect $4.97 billion.

Tenet raised its 2024 adjusted diluted EPS from continuing operations outlook to a range of $8.37 to $9.41, from its previous guidance of $5.76 to $6.90. Analysts polled by Capital IQ expect $6.41.

The healthcare services company also increased its 2024 net operating revenue outlook to a range of $20.00 billion to $20.40 billion, from its previous guidance of $19.90 billion to $20.30 billion. Analysts surveyed by Capital IQ expect $20.33 billion.

Price: 106.61, Change: +7.46, Percent Change: +7.52