Community Health Systems Q3 results miss estimates, hospital admissions fall
- Community Health Systems press release (NYSE:CYH): Q3 Non-GAAP EPS of -$0.52 misses by $0.50
- Revenue of $3.03B (-2.9% Y/Y) misses by $10M.
- On a same-store basis, Q3 admissions fell 2.2% Y/Y and adjusted admissions rose 5.2% Y/Y.
- Hurricane Ian impacted Q3, resulting in a loss of net operating revenues together with incremental expenses currently estimated at about $10M.
- CYH had 81 hospitals and 13.3K licensed beds as of Sept. 30, 2022, compared to 84 hospitals and 13.2K licensed beds a year earlier.
- Q3 occupancy rate was 46.7% vs. 53.5% a year ago.
- Shares -4.4% after hours.
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