Tenet said its board approved an additional $2 billion share buyback program, increasing the company's remaining repurchase authorization to about $2.13 billion.
As of last close, the stock was up 0.2% YTD.
Shares rise after forecast increase
Shares of hospital operator Tenet Healthcare (THC.N) rose 15.6% to $230 premarket.
THC, late on Thursday, raised its 2026 revenue forecast to between $21.9 billion and $22.5 billion, from $21.5 billion and $22.3 billion.
Analysts on average were expecting 2026 revenue of $21.98 billion - LSEG.
The company also lifted 2026 adjusted EPS to the range of $20.30 to $21.69 per share, from $16.38 to $18.68 per share; analysts had expected profit of $17.83/share - LSEG.
The company posted Q2 sales of $5.63 billion and adjusted EPS of $6.12, both topping analysts' estimates.
Analysts call results better than feared
Tenet delivered a "Strong Beat and Raise" quarter that Mizuho analysts called "better-than-feared" results, easing concerns after a peer's pre-announcement.
Earlier this month, Tenet's peer HCA Healthcare (HCA.N) cut its annual profit forecast due to an increase in uninsured patients.
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