11:05 AM EDT, 10/29/2024 (MT Newswires) -- (Updates with share price movement in headline and first paragraph.)

Tenet Healthcare ( THC ) shares were up nearly 12% in recent Tuesday trading after the company posted better-than-expected Q3 results and raised its full-year earnings guidance.

The company reported Q3 adjusted earnings of $2.93 per diluted share, up from $1.44 a year earlier.

Analysts polled by Capital IQ expected $2.37.

Net operating revenue for the quarter ended Sept. 30 rose to $5.12 billion from $5.07 billion a year earlier.

Analysts surveyed by Capital IQ expected $5.05 billion.

For Q4, the company expects adjusted EPS of $2.69 to $3.31. Analysts polled by Capital IQ expect $2.88. Net operating revenue is expected to be between $5.01 billion and $5.21 billion. Analysts surveyed by Capital IQ expect $5.23 billion.

For 2024, Tenet said it now expects adjusted EPS of $11.12 to $11.73, up from its previous range of $10.41 to $11.12, on net operating revenue of $20.60 billion to $20.80 billion, compared with its previous forecast of $20.60 billion to $21 billion.

Analysts polled by Capital IQ expect normalized EPS of $10.98 on revenue of $20.84 billion.

Price: 156.55, Change: +17.06, Percent Change: +12.23