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Dec 31, 2023
CHS Q4 2023 Earnings Report
Financial and operating results were announced for the quarter and year ended December 31, 2023.
Key Takeaways
Community Health Systems, Inc. reported net operating revenues of $3.181 billion and net income attributable to stockholders of $46 million, or $0.35 per share (diluted) for Q4 2023. Adjusted EBITDA was $386 million. Net cash provided by operating activities was $90 million.
Net operating revenues totaled $3.181 billion.
Net income attributable to Community Health Systems, Inc. stockholders was $46 million, or $0.35 per share (diluted).
Adjusted EBITDA was $386 million.
Net cash provided by operating activities was $90 million.
Forward Guidance
The Company’s projected consolidated operating results for the year ending December 31, 2024 includes net operating revenues between $12,300 to $12,700 million and Adjusted EBITDA between $1,475 to $1,625 million.
Positive Outlook
- Expressed as a percentage of net operating revenues, depreciation and amortization of approximately 4.0% for 2024.
- Interest expense is estimated to be between $820 million and $840 million while cash paid for interest, which excludes the amortization of deferred financing costs, is expected to be $730 million to $750 million. Total fixed rate debt is expected to average approximately 99% of total debt during 2024.
- Expressed as a percentage of net operating revenues, net income attributable to noncontrolling interests of approximately 1.2% to 1.3% for 2024.
- Expressed as a percentage of net operating revenues, provision for income taxes of approximately 0.8% to 0.9% for 2024.
- Diluted weighted-average shares outstanding are projected to be approximately 132 million to 133 million for 2024.
Challenges Ahead
- Effect of debt refinancing activities, including gains and losses from early extinguishment of debt.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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