On Monday, Shares of Tenet Healthcare Corp (NYSE:THC), lost -0.15% to $53.13.
Tenet Healthcare Corporation, stated Adjusted EBITDA of $568 million for the second quarter of 2015, an enhance of $108 million, or 23.5 percent, contrast to $460 million in the second quarter of 2014. The results for the second quarter of 2015 comprised of $16 million of Adjusted EBITDA generated by United Surgical Partners International (USPI) and Aspen Healthcare, which were attained by Tenet on June 16, 2015.
“This was another strong quarter for Tenet with EBITDA that exceeded our expectations,” said Trevor Fetter, chairman and chief executive officer. “We continued to focus on aggressive implementation of our strategy to improve care delivery and more closely align our business with key trends shaping the healthcare system. In our hospital business, we made progress on multiple planned partnerships that will assist us achieve leadership positions in our markets, in addition to plans to divest facilities. We also accomplished our joint venture with USPI, which makes us the leader in the fast-growing ambulatory surgery sector. We continue to position Tenet as a partner of choice for not-for-profit health systems, and we remain incredibly optimistic about the many opportunities to grow with new and existing partners through our acute care business, USPI and Conifer.”
Tenet Healthcare Corporation, a healthcare services company, primarily operates acute care hospitals and related healthcare facilities in the United States. It operates through two segments, Hospital Operations and Other, and Conifer.
Shares of FMC Corp (NYSE:FMC), inclined 3.91% to $49.22, during its last trading session.
FMC Corporation declared that it is changing its strategy for pectin, shifting focus from the manufacture of standard grade pectin to concentrate on higher-value, more specialized solutions for its customers. As part of this strategy, FMC will sell its pectin manufacturing facility, located in Milazzo, Italy, to Cargill, Inc.
FMC will continue to offer pectin as one of many naturally-derived products it provides to industry-leading customers it serves.
“We are re-allocating our resources away from the manufacture of standard grade pectin to concentrate on developing the very best solutions that meet our customers’ needs,” said Eric Norris, vice president, global business director, FMC Health and Nutrition. “For more than 75 years, FMC has assisted solve its customers’ most pressing food and beverage challenges. Pectin remains an important product line in our broad portfolio of ingredients, counting microcrystalline cellulose, alginates, carrageenan and natural colors.”
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific.
At the end of Monday’s trade, Shares of Raytheon Company (NYSE:RTN), gained 0.56% to $109.43.
The U.S. Navy and Raytheon Company demonstrated new capabilities for the Tomahawk Block IV cruise missile in a successful flight test conducted from the guided missile cruiser USS Anzio (CG-68).
The test proved that the Block IV can operate with an improved, more flexible mission planning capability.
Raytheon Company develops integrated products, services, and solutions in the areas of sensing; effects; command, control, communications, and intelligence; mission support; and cyber and information security worldwide.
Finally, HomeAway, Inc. (NASDAQ:AWAY), ended its last trade with 1.43% gain, and closed at $31.21.
HomeAway, stated its financial results for the second quarter ended June 30, 2015.
Second Quarter 2015 Financial Highlights
- Total revenue raised 10.1% to $125.8 million from $114.3 million in the second quarter of 2014. On an FX neutral basis, year-over-year revenue growth was 19.2%. Growth in total revenue primarily reflected an enhance in average revenue per subscription listing as a result of tiered pricing and bundled product offerings, the benefit of ancillary product and services revenue, and an enhance in listings.
- Listing revenue raised 5.6% to $99.8 million from $94.5 million in the second quarter of 2014. On an FX neutral basis, year-over-year listing revenue growth was 16.0%.
- Other revenue, which is comprised of ancillary revenue from owners, managers, and travelers, advertising, software and other items, raised 31.9% to $26.0 million from $19.7 million in the second quarter of 2014. Growth in other revenue primarily reflected raised adoption of value-added owner, manager and traveler products.
- Net loss attributable to HomeAway was $2.4 million, or a loss of $0.03 per diluted share, contrast to net income attributable to HomeAway of $3.9 million, or $0.04 per diluted share, in the second quarter of 2014.
- Adjusted EBITDA reduced 27.0% (reduced 17.6% FX neutral) to $24.1 million from $33.0 million in the second quarter of 2014. As a percentage of revenue, adjusted EBITDA was 19.1% contrast to 28.9% in the second quarter of 2014. This change reflects a noteworthy enhance in investment in our global integrated marketing campaign, which launched in the first quarter of 2015.
- Free cash flow reduced 3.6% to $33.8 million from $35.0 million in the second quarter of 2014. On a trailing twelve-month basis, free cash flow raised 7.1% to $122.3 million from $114.2 million in the comparable trailing twelve month period for the preceding year.
- Non-GAAP net income was $11.5 million, or $0.12 per diluted share, contrast to non-GAAP net income of $14.3 million, or $0.15 per diluted share, in the second quarter of 2014.
HomeAway, Inc., together with its auxiliaries, operates an online vacation rental property marketplace that enables property owners and managers to market properties for rental to vacation travelers.
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