Community Health Systems Inc (NYSE: CYH) reported a second-quarter operating revenue decline of 2.4% year-over-year to $2.93 billion, missing the consensus of $3.14 billion.
The company reported an adjusted EPS loss of $(2.52) compared to $0.23 a year ago, missing the consensus of $0.07.
Adjusted EBITDA was $253 million (-44.2% Y/Y), and margin fell by 644 bps to 8.6%.
Admissions during the quarter decreased 3.4% to 107,805, and adjusted admissions declined 0.4% to 247,119.
On a same-store basis, admissions decreased 3.5% Y/Y, and adjusted admissions decreased 0.5% Y/Y.
Net cash provided by operating activities year-to-date was $154 million, compared to $280 million a year ago.
On a same-store basis, net operating revenues decreased 2.6%.
“Our results in the second quarter were affected by challenging operating dynamics that included lower than anticipated volume, lower net revenue per adjusted admission, and significant contract labor costs driven by the labor market and inflationary pressures,” commented Tim L. Hingtgen, chief executive officer of Community Health Systems, Inc.
FY22 Guidance: Community Health forecasts net operating revenues of $12.2 billion - $12.5 billion, compared to the consensus of $12.79 billion.
The company forecasts adjusted EBITDA of $1.3 billion - $1.4 billion, with EPS of $(2.55) - $(1.65), versus the consensus of $0.96.
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