The Dallas-based company reported a loss $5 million, or 5 cents a share, compared with a year-earlier loss of $230 million, or $2.27 a share. Tenet reported adjusted net income of 51 cents a share, beating analysts' estimates of 28 cents.
Revenue for the quarter came in at $4.62 billion, down 7.2% from a year ago, but beat the consensus estimate of $4.51 billion.
For the year, the company reported adjusted earnings of $193 million, or $1.86 a share, compared with net income of $82 million, or 81 cents a share, in 2017.
"We delivered strong results in the fourth quarter and beat consensus expectations for revenue, Adjusted EBITDA and Adjusted EPS," Ronald A. Rittenmeyer, executive chairman and CEO, said in a statement. "2018 was a year of significant change for the company. We meaningfully improved our financial results, and made significant progress to create a more efficient, agile enterprise with new leadership helping to reshape strategy and drive consistency in execution."
For 2019, Tenet called for revenue ranging from $18 billion to $18.4 billion, with adjusted earnings of $2.08 to $2.59 a share. For the first quarter of the year, the company called for revenue ranging from $4.3 billion to $4.6 billion, with adjusted earnings of 10 cents to 43 cents a share.