Subscribe to Entrepreneur for $5

Community Health's (CYH) Q3 Earnings Beat, Improve Y/Y

Community Health's (CYH) third-quarter earnings gain from a solid revenue stream and lower expenses.

This story originally appeared on Zacks

Community Health Systems, Inc. CYH reported third-quarter 2021 adjusted net income of 69 cents per share, beating the Zacks Consensus Estimate of 5 cents. The bottom line increased by 283.3% on a year-over-year basis.

- Zacks

Quarterly Operational Update

Net operating revenues of $3.1 billion dipped 0.4% year over year in the quarter under review. The top line surpassed the consensus mark by 2.7%.

In the third quarter, admissions and adjusted admissions dipped 5.5% and 3.4%, respectively, from the prior-year quarter’s figures.

As of Sep 30, 2021, number of licensed beds totaled 13,000, up 0.1% year over year.

The company’s adjusted EBITDA of $482 million was up 11.8% from the prior-year quarter’s figure.

Total operating costs and expenses of $2.7 billion dipped 2.3% year over year owing to lower salaries and benefits and lower operating expenses.

In the quarter under review, interest expense, net fell 15.9% year over year to $216 million.

Financial Update

Community Health exited the third quarter with cash and cash equivalents of $1.3 billion, which decreased 22.8% from the level at 2020 end.

Total assets as of Sep 30, 2021 were $15.7 billion, down 2.1% from the 2020-end level.

As of Sep 30, 2021, the company’s long-term debt totaled $11.9 billion, which declined 0.9% from the 2020-end level.

For the nine months ended Sep 30, 2021, net cash provided by operating activities of $400 million plunged from the year-ago comparable period’s figure of $2.1 billion.

2021 Outlook

This year, the company’s net operating revenues are now revised to the range of $12.1-$12.3 billion compared with the prior guidance of $11.9-$12.3 billion.

Adjusted EBITDA is estimated within $1.7-$1.8 billion.

Net income per share is anticipated to be $1-$1.20 per share, up from the prior outlook of 60-80 cents in 2021.

Net cash provided by operating activities excluding the repayment of Medicare accelerated payments is



forecast between $800 million and $900 million.

Capex is expected in the range of $450-$500 million.

Zacks Rank

Community Health currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Medical Sector Releases

Among other players from the medical space that have reported third-

quarter earnings so far, the bottom-line results of UnitedHealth Group Incorporated UNH, Tenet Healthcare Corporation THC and  HCA Healthcare, IncHCA beat respective estimates.

Bitcoin, Like the Internet Itself, Could Change Everything

Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.

Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. 

See 3 crypto-related stocks now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report


UnitedHealth Group Incorporated (UNH): Free Stock Analysis Report


Tenet Healthcare Corporation (THC): Free Stock Analysis Report


Community Health Systems, Inc. (CYH): Free Stock Analysis Report


HCA Healthcare, Inc. (HCA): Free Stock Analysis Report


To read this article on click here.


Zacks Investment Research