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Exhibit Number

99.1

 

Investor Contact:      Thomas J. Aaron
    

Executive Vice President

and Chief Financial Officer

     (615) 465-7000

COMMUNITY HEALTH SYSTEMS, INC. ANNOUNCES

SECOND QUARTER 2017 RESULTS WITH NET OPERATING REVENUES OF $4.144 BILLION

 

 

FRANKLIN, Tenn. (August 1, 2017) – Community Health Systems, Inc. (NYSE: CYH) (the “Company”) today announced financial and operating results for the three and six months ended June 30, 2017.

The following highlights the financial and operating results for the three months ended June 30, 2017, that are further discussed below:

 

    Net operating revenues totaled $4.144 billion.

 

    Net loss attributable to Community Health Systems, Inc. common stockholders was $(137) million, or $(1.22) per share (diluted), compared with net loss of $(1.432) billion, or $(12.91) per share (diluted) for the same period in 2016.

 

    Adjusted EBITDA was $435 million.

 

    Loss from continuing operations attributable to Community Health Systems, Inc. common stockholders was $(1.17) per share (diluted).

 

    Adjusted for certain items discussed below, loss from continuing operations attributable to Community Health Systems, Inc. common stockholders was $(0.25) per share (diluted).

 

    Cash flow from operations was $261 million, compared with $338 million for the same period in 2016, representing a 22.8 percent decrease.

 

    On a same-store basis, both admissions and adjusted admissions decreased 2.5 percent, compared with the same period in 2016.

Financial and statistical data for 2016 include the following in operating results through the effective date of each respective transaction:

 

    On April 29, 2016, the Company completed the spin-off of Quorum Health Corporation (“QHC”), comprised of 38 affiliated hospitals and related outpatient services in 16 states, together with Quorum Health Resources, LLC, a subsidiary providing management advisory and consulting services to non-affiliated hospitals. Same-store operating results and statistical data exclude information for the hospitals divested in the spin-off of QHC in the comparable period in 2016.

 

    On April 29, 2016, the Company sold its unconsolidated minority equity interests in Valley Health System, LLC and Summerlin Hospital Medical Center, LLC, both joint ventures with Universal Health Systems, Inc. comprising a total of five hospitals in Las Vegas, Nevada.

 

    On December 31, 2016, the Company sold an 80 percent majority ownership interest in its home care division to a subsidiary of Almost Family, Inc. Same-store operating results exclude the home care division in the comparable period in 2016.

 

-MORE-


The following information was filed by Community Health Systems Inc (CYH) on Tuesday, August 1, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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