We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Community Health Systems (CYH) Beats Q2 Earnings Estimates
Read MoreHide Full Article
Community Health Systems, Inc. (CYH - Free Report) reported adjusted earnings of 26 cents per share in the second quarter of 2017, which beat the Zacks Consensus Estimate by 4%.
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
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.
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>>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Community Health Systems (CYH) Beats Q2 Earnings Estimates
Community Health Systems, Inc. (CYH - Free Report) reported adjusted earnings of 26 cents per share in the second quarter of 2017, which beat the Zacks Consensus Estimate by 4%.
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
Community Health Systems, Inc. Price, Consensus and EPS Surprise | Community Health Systems, Inc. Quote
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>>