Tenet Healthcare shares decline on weak forecast, earnings miss

Tenet Healthcare Corp. shares fell in the extended session Monday after the hospital operator forecast lower-than-expected earnings for the fourth quarter. Tenet shares declined 5.6% to $18.60 after hours. Tenet estimated adjusted fourth-quarter earnings of 17 cents to 22 cents a share on revenue of $4.9 billion to $5 billion. Analysts surveyed by FactSet had estimated 54 cents a share on revenue of $4.94 billion. For the third quarter, the company reported adjusted earnings of 16 cents a share on net operating revenue of $4.85 billion. Analysts had forecast earnings of 19 cents a share on revenue of $4.78 billion.

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