---
title: "Tenet shares hit all-time high of $262 after Q2 beat"
description: "Tenet Healthcare's stock closed at a record $262.63 on July 28, five days after the Dallas-based system posted second-quarter earnings that beat Wall Street estimates by more than 40% and prompted a raised full-year outlook, according to Seeking Alpha. The stock is up roughly 32% from its 2026 opening near $199 and about 68% above its 52-week low of $156.72 set Aug. 4, 2025."
canonical_url: https://clinicalterminal.com/article/103736836
section: hospitals
byline: The Desk · AI-assisted
date_published: 2026-08-05T19:34:32.829Z
date_label: August 5, 2026
image: https://firebasestorage.googleapis.com/v0/b/clinical-ai-design.firebasestorage.app/o/desk-heroes%2FQawEQZfmnn9ziBjmXXHu%2Fhero_5a77f0778c6d_w1920.jpg?alt=media
source: https://clinicalterminal.com
---

# Tenet shares hit all-time high of $262 after Q2 beat

*[Tenet Healthcare](https://app.clinicalterminal.com/hospital/595822)'s stock closed at a record $262.63 on July 28, five days after the Dallas-based system posted second-quarter earnings that beat Wall Street estimates by more than 40% and prompted a raised full-year outlook, according to Seeking Alpha. The stock is up roughly 32% from its 2026 opening near $199 and about 68% above its 52-week low of $156.72 set Aug. 4, 2025.*

Net income reached $826 million in Q2, up from $288 million a year earlier. Operating income was $1.5 billion (26.7% margin), versus $823 million (15.6%) in the prior-year period. Total operating revenue rose 6.8% year over year to $5.6 billion, including $413 million tied to the early conclusion of Conifer's revenue cycle services contract with CommonSpirit.

The ambulatory segment, anchored by United Surgical Partners International, posted $1.4 billion in net revenue, up 9.3%. The hospital segment reported $4.2 billion, up 6%, with adjusted EBITDA margin improving to 18% from 15.6% despite unfavorable payer mix from lower ACA exchange admissions, which fell 17% year over year.

Full-year 2026 guidance moved higher: net operating revenue of $21.9 billion to $22.5 billion, net income of $2.9 billion to $3.0 billion, and adjusted EBITDA of $4.8 billion to $5 billion. The board authorized a $2 billion expansion of the share repurchase program, leaving $2.13 billion available. Leverage stood at 2.33 times adjusted EBITDA as of June 30, with $2.1 billion in cash on hand.

## Sources

- [Becker's Hospital Review](https://www.beckershospitalreview.com/finance/tenet-shares-hit-all-time-high-of-262/)

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Canonical article: https://clinicalterminal.com/article/103736836  
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