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Sep 30, 2021
CHS Q3 2021 Earnings Report
Community Health Systems experienced a slight decrease in net operating revenues but maintained net income in Q3 2021.
Key Takeaways
Community Health Systems reported net operating revenues of $3.115 billion, a slight decrease of 0.4% compared to the same period in 2020. Net income attributable to common stockholders was $111 million, or $0.85 per share (diluted), nearly identical to the $112 million, or $0.97 per share (diluted), reported in Q3 2020. Adjusted EBITDA increased to $482 million from $431 million in the prior year.
Net operating revenues totaled $3.115 billion, a 0.4% decrease year-over-year.
Net income attributable to common stockholders was $111 million, or $0.85 per share (diluted).
Adjusted EBITDA was $482 million, up from $431 million in the same period last year.
On a same-store basis, admissions increased 2.8 percent and adjusted admissions increased 4.7 percent.
Forward Guidance
Community Health Systems provided its projected consolidated operating results for the year ending December 31, 2021.
Positive Outlook
- Net operating revenues are projected to be between $12.150 billion and $12.350 billion.
- Adjusted EBITDA is projected to be between $1.780 billion and $1.820 billion.
- Net income per share - diluted is projected to be between $1.00 and $1.20.
- Capital expenditures are projected to be between $450 million and $500 million.
- Net cash provided by operating activities, excluding the repayment of Medicare accelerated payments is projected to be between $800 million and $900 million.
Challenges Ahead
- Projections exclude the effect of debt refinancing activities, including gains and losses from early extinguishment of debt.
- Projections exclude impairment of goodwill and long-lived assets.
- Projections exclude previously recorded pandemic relief funds and the potential recognition of additional pandemic relief funds.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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