- On a preliminary basis, Community Health Systems (NYSE:CYH) expects Q2 revenues of ~$4.14B, down 9.7% yoy. Net loss is expected to be ($137M) or ($1.22)/share.
- Results include a loss of ($0.77)/share due to impairment and gain/loss on the sale of businesses, a loss of ($0.06)/share from the early extinguishment of debt and a loss of ($0.04)/share related to government and other legal settlements.
- Cash flow ops should be ~$261M, down 22.8%.
- Total admissions were down 10.8% and down 2.5% on a same-store basis.
- The company says the lower-than-anticipated results were due to lower-than-expected volume and increases in medical specialist fees, purchased services and information systems expenses.
- It continues to pursue the divestiture of certain of its hospitals with potential transactions involving facilities that generate at least $1.5B in revenue per year.
- 2017 Guidance: Non-GAAP EBITDA: $1.825B - 2.000B; same-store admissions down 1 - 2%.
- Complete results and updated guidance will be release on August 1 before the open.
- Shares are down 17% premarket on average volume.
- Now read: Stocks For July And Beyond
Original article