Tenet Healthcare (THC) Trevor Fetter on Q4 2015 Results - Earnings Call Transcript

Feb. 23, 2016 5:07 PM ETTenet Healthcare Corporation (THC)
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Tenet Healthcare Corp. (NYSE:THC) Q4 2015 Earnings Call February 23, 2016 10:00 AM ET

Executives

Trevor Fetter - Chairman, President & Chief Executive Officer

Daniel J. Cancelmi - Chief Financial Officer

Keith B. Pitts - Vice Chairman

William H. Wilcox - Chief Executive Officer & Director, United Surgical Partners International, Inc.

Britt T. Reynolds - President-Hospital Operations

Jason B. Cagle - Chief Financial Officer, United Surgical Partners International, Inc.

Analysts

A.J. Rice - UBS Securities LLC

Whit Mayo - Robert W. Baird & Co., Inc. (Broker)

Joshua Raskin - Barclays Capital, Inc.

Sheryl R. Skolnick - Mizuho Securities USA, Inc.

Kevin Mark Fischbeck - Bank of America Merrill Lynch

Andy Schenker - Morgan Stanley & Co. LLC

Gary P. Taylor - JPMorgan Securities LLC

John W. Ransom - Raymond James & Associates, Inc.

Operator

Good day, everyone and welcome to the Fourth Quarter 2015 Tenet Healthcare Earnings Conference Call. My name is Dana, and I'll be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. The slides referred to in today's call are posted on the company's website. Please note the cautionary statement on the forward-looking information included in the slides.

I will now turn the call over to Trevor Fetter, Tenet's Chairman and Chief Executive Officer. Mr. Fetter, you may begin

Trevor Fetter - Chairman, President & Chief Executive Officer

Great. Thank you, operator, and good morning, everyone. Let me start by saying that we achieved what we set out to accomplish in 2015. We hit our outlook for the year. We significantly improved our cash flow position. We made substantial progress on the plan to improve our hospital portfolio. We expanded our higher-margin businesses, and we became an even stronger partner to not-for-profit health systems opening up new avenues for growth.

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