07:28 AM EDT, 07/24/2024 (MT Newswires) -- Tenet Healthcare ( THC ) reported Q2 adjusted earnings Wednesday of $2.31 per diluted share, up from $1.44 a year earlier.

Analysts polled by Capital IQ expected $1.91.

Net operating revenue for the quarter ended June 30 was $5.10 billion compared with $5.08 billion a year earlier.

Analysts surveyed by Capital IQ expected $5 billion.

The company said it expects Q3 adjusted earnings of $2.16 to $2.58 per diluted share on net operating revenue of $5.00 billion to $5.10 billion. Analysts polled by Capital IQ expect adjusted earnings of $1.67 per diluted share on revenue of $4.89 billion.

For the full year, Tenet Healthcare ( THC ) now expects adjusted earnings of $10.41 to $11.12 per diluted share, from the previous range of $8.37 to $9.41, on net operating revenue of $20.60 billion to $21.00 billion, from its previous forecast of $20.00 billion to $20.40 billion. Analysts surveyed by Capital IQ expect adjusted earnings of $8.98 on revenue of $20.44 billion.

The company also said its board approved a new $1.5 billion share repurchase program.

Shares of Tenet Healthcare ( THC ) were up nearly 6% in recent Wednesday premarket activity.

Price: 146.50, Change: +7.82, Percent Change: +5.64