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Community Health sees an ugly Q3 with revenues down 10% and an operating loss; shares off 33% premarket

Published 10/27/2016, 08:29 AM
Community Health sees an ugly Q3 with revenues down 10% and an operating loss; shares off 33% premarket
  • On a preliminary basis, Community Health Systems expects Q3 revenues of about $4.38B (-9.6%) an an operating loss of ($83M) (-168.6%). Cash Flow Ops should be $178M (+60.4%).
  • Total admissions are down 12.4%.
  • The company attributes the poor results to lower-than-expected volume, larger-than-expected reductions in reimbursement from state supplemental programs and the failure to achieve anticipated expense reductions.
  • 2016 Guidance: Non-GAAP EBITDA: $2.200B - 2.275B from $2.40B - 2.55B.
  • Consensus Q3 view is EPS of $0.32 on revenues of $4.3B.
  • Final Q3 results will be released on November 1.
  • Shares are down 33% premarket on robust volume.

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