Shares of Tenet Healthcare (THC) surged 13.08% in pre-market trading Friday, following the company's release of second-quarter financial results that handily exceeded Wall Street expectations and an upward revision to its full-year profit forecast.

The hospital operator reported adjusted earnings per share of $6.12 for the quarter, smashing the analyst consensus estimate of $4.26. Net operating revenue climbed 6.8% to $5.63 billion, also topping the projected $5.43 billion. The robust performance was fueled by same-facility revenue growth, a favorable shift in service mix toward higher-acuity cases, and disciplined expense management.

In a sign of confidence, Tenet also significantly raised its 2026 guidance. The company now expects full-year adjusted diluted EPS in a range of $20.30 to $21.69, well above the prior analyst consensus of $17.94, with revenue guidance of $21.9 billion to $22.5 billion. This marks a substantial jump from the earlier EPS outlook of $16.38 to $18.68 provided after the first quarter.