Community Health Systems, Inc. (CYH - Free Report) reported adjusted loss of 25 cents per share in the second quarter of 2017, which was narrower than the Zacks Consensus Estimate of a loss of 26 cents.
Net loss attributable to the common stockholders was $137 million or $1.22 per diluted share, narrower than the net loss of $1.432 billion or $12.91 per share incurred in the year-ago quarter
Quarterly Operational Update
In the second quarter, net operating revenue of $4.14 billion surpassed the Zacks Consensus Estimate by 2.5% but decreased 9.7% year over year. On a same-store basis, net operating revenue decreased 0.7% during the three months ended Jun 30, 2017, year over year.
The second quarter witnessed a 10.8% decrease in total admissions and an 11.2% fall in total adjusted admissions, year over year. On a same-store basis, both admissions and adjusted admissions decreased 2.5% from the year-ago quarter.
In the reported quarter, total operating expenses declined 32% to $4 billion, primarily due to lower salaries and benefits paid to employees, supplies, depreciation & amortization-related expenses and other operating costs.
Community Health Systems, Inc. Price, Consensus and EPS Surprise
Financial Update
As of Jun 30, 2017, the company’s total assets declined 5% from year-end 2016 to $20.8 billion. Cash and cash equivalents grew over 200% to $768 million from year-end 2016.
The company paid off a substantial portion of its debt through divestures. It had long-term debt of $14.7 billion as of Jun 30, 2017, down 0.6% year over year.
Total shareholders’ equity was $1.4 billion as of Jun 30, 2017, down 19.4% from year-end 2016.
Cash flow from operations was $503 million at the end of the second quarter, down 20.4% year over year.
2017 Guidance
Community Health expects net operating revenue (less provision for bad debts) in the range of $15.85 billion to $16.05 billion.
The company projects adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for 2017 in the range of $1.825–$2 billion.
Weighted-average diluted shares are expected in the band of $112–$113 million.
Zacks Rank and Performance of Other Insurers
Community Health presently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among the other firms in the medical sector that have reported second-quarter earnings so far, the bottom lines of Centene Corp. (CNC - Free Report) , Anthem Inc and UnitedHealth Group Inc. (UNH - Free Report) beat their respective Zacks Consensus Estimate.
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From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
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(We are reissuing this article to correct a mistake. The original article, issued earlier today, should no longer be relied upon.)
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Community Health Systems, Inc. (CYH - Free Report) reported adjusted loss of 25 cents per share in the second quarter of 2017, which was narrower than the Zacks Consensus Estimate of a loss of 26 cents.
Net loss attributable to the common stockholders was $137 million or $1.22 per diluted share, narrower than the net loss of $1.432 billion or $12.91 per share incurred in the year-ago quarter
Quarterly Operational Update
In the second quarter, net operating revenue of $4.14 billion surpassed the Zacks Consensus Estimate by 2.5% but decreased 9.7% year over year. On a same-store basis, net operating revenue decreased 0.7% during the three months ended Jun 30, 2017, year over year.
The second quarter witnessed a 10.8% decrease in total admissions and an 11.2% fall in total adjusted admissions, year over year. On a same-store basis, both admissions and adjusted admissions decreased 2.5% from the year-ago quarter.
In the reported quarter, total operating expenses declined 32% to $4 billion, primarily due to lower salaries and benefits paid to employees, supplies, depreciation & amortization-related expenses and other operating costs.
Community Health Systems, Inc. Price, Consensus and EPS Surprise
Financial Update
As of Jun 30, 2017, the company’s total assets declined 5% from year-end 2016 to $20.8 billion. Cash and cash equivalents grew over 200% to $768 million from year-end 2016.
The company paid off a substantial portion of its debt through divestures. It had long-term debt of $14.7 billion as of Jun 30, 2017, down 0.6% year over year.
Total shareholders’ equity was $1.4 billion as of Jun 30, 2017, down 19.4% from year-end 2016.
Cash flow from operations was $503 million at the end of the second quarter, down 20.4% year over year.
2017 Guidance
Community Health expects net operating revenue (less provision for bad debts) in the range of $15.85 billion to $16.05 billion.
The company projects adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for 2017 in the range of $1.825–$2 billion.
Weighted-average diluted shares are expected in the band of $112–$113 million.
Zacks Rank and Performance of Other Insurers
Community Health presently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among the other firms in the medical sector that have reported second-quarter earnings so far, the bottom lines of Centene Corp. (CNC - Free Report) , Anthem Inc and UnitedHealth Group Inc. (UNH - Free Report) beat their respective Zacks Consensus Estimate.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>
(We are reissuing this article to correct a mistake. The original article, issued earlier today, should no longer be relied upon.)
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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