Tenet Healthcare Corporation (NYSE:THC) Q3 2023 Earnings Conference Call October 30, 2023 5:00 PM ET
Company Participants
Will McDowell - VP, IR
Saum Sutaria - CEO
Daniel Cancelmi - EVP and CFO
Sun Park - EVP
Conference Call Participants
Josh Raskin - Nephron Research
Stephen Baxter - Wells Fargo
Whit Mayo - Leerink Partners
Justin Lake - Wolfe Research
Kevin Fischbeck - Bank of America
A.J. Rice - UBS
Jamie Perse - Goldman Sachs
Calvin Sternick - JPMorgan
Pito Chickering - Deutsche Bank
John Ransom - Raymond James
Ben Hendrix - RBC Capital Markets
Jason Cassorla - Citigroup
Brian Tanquilut - Jefferies
Sarah James - Cantor Fitzgerald
Operator
Good afternoon. Welcome to Tenet Healthcare's Third Quarter 2023 Earnings Conference Call. After the speaker remarks, there will be a question-and-answer session for industry analysts. [Operator Instructions]
I'll now turn the call over to your host, Mr. Will McDowell, Vice President of Investor Relations. Mr. McDowell, you may begin.
Will McDowell
Good afternoon everyone and thank you for joining today's call. I am Will McDowell, Vice President of Investor Relations. We're pleased to have you join us for a discussion of Tenet's third quarter 2023 results as well as a discussion of our financial outlook.
Tenet's senior management participating in today's call will be Dr. Saum Sutaria, Chairman and Chief Executive Officer; Dan Cancelmi, Executive Vice President and Chief Financial Officer; and Sun Park, Executive Vice President.
Our webcast this afternoon includes a slide presentation, which has been posted to the Investor Relations section of our website, tenethealth.com. Listeners to this call are advised that certain statements made during our discussion today are forward-looking and represent management's expectations based on currently available information.
Actual results and plans could differ materially. Tenet is under no obligation to update any forward-looking statements based on subsequent information. Investors should take note of the cautionary statement slide included in today's presentation as well as the risk factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission.
With that, I'll turn the call over to Saum.
Saum Sutaria
Thank you, Will and good afternoon everyone. We continue to deliver strong results in 2023. In the third quarter, we generated net operating revenues of $5.1 billion and consolidated adjusted EBITDA of $854 million. This translates into an attractive, almost 17% margin. These results were driven by sustained volume growth and effective cost control across each of our businesses.