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Community Health (CYH) Q2 Loss Narrower than Expected (Revised)
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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
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>>
(We are reissuing this article to correct a mistake. The original article, issued earlier today, should no longer be relied upon.)
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Community Health (CYH) Q2 Loss Narrower than Expected (Revised)
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
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>>
(We are reissuing this article to correct a mistake. The original article, issued earlier today, should no longer be relied upon.)