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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

FOURTH QUARTER AND YEAR ENDED 2018 RESULTS AND GUIDANCE

 

 

FRANKLIN, Tenn. (February 20, 2019) – Community Health Systems, Inc. (NYSE: CYH) (the “Company”) today announced financial and operating results for the three months and year ended December 31, 2018.

The following highlights the financial and operating results for the three months ended December 31, 2018.

 

   

Net operating revenues totaled $3.453 billion.

 

   

Net loss attributable to Community Health Systems, Inc. common stockholders was $(328) million, or $(2.91) per share (diluted), compared with net loss of $(2.013) billion, or $(17.98) per share (diluted), for the same period in 2017. Excluding the adjusting items as presented in the table in footnote (e) on page 15, net loss attributable to Community Health Systems, Inc. common stockholders was $(0.42) per share (diluted), compared with $(0.28) per share (diluted) for the same period in 2017.

 

   

Adjusted EBITDA was $419 million, an increase compared with the same period in 2017.

 

   

Net cash used in operating activities was $165 million, which included $266 million paid for the HMA legal settlement during the quarter, compared with net cash provided by operating activities of $156 million for the same period in 2017.

 

   

On a same-store basis, admissions decreased 0.5 percent and adjusted admissions increased 0.1 percent, compared with the same period in 2017.

Net operating revenues for the three months ended December 31, 2018, totaled $3.453 billion, a 12.9 percent increase, compared with $3.059 billion for the same period in 2017.

Net loss attributable to Community Health Systems, Inc. common stockholders was $(328) million, or $(2.91) per share (diluted), for the three months ended December 31, 2018, compared with $(2.013) billion, or $(17.98) per share (diluted), for the same period in 2017. Excluding the adjusting items as presented in the table in footnote (e) on page 15, net loss attributable to Community Health Systems, Inc. common stockholders was $(0.42) per share (diluted), for the three months ended December 31, 2018, compared with $(0.28) per share (diluted) for the same period in 2017. Weighted-average shares outstanding (diluted) were 113 million for the three months ended December 31, 2018, and 112 million for the three months ended December 31, 2017. Adjusted EBITDA for the three months ended December 31, 2018, was $419 million compared with $409 million for the same period in 2017, representing a 2.4 percent increase.

The consolidated operating results for the three months ended December 31, 2018, reflect a 9.7 percent decrease in total admissions, and a 9.8 percent decrease in total adjusted admissions, compared with the same period in 2017. On a same-store basis, admissions decreased 0.5 percent and adjusted admissions increased 0.1 percent for the three months ended December 31, 2018, compared with the same period in 2017. On a same-store basis, net operating revenues increased 1.9 percent for the three months ended December 31, 2018, compared with the same period in 2017.

Net operating revenues for the year ended December 31, 2018, totaled $14.155 billion, a 7.8 percent decrease, compared with $15.353 billion for the same period in 2017.

 

-MORE-


The following information was filed by Community Health Systems Inc (CYH) on Wednesday, February 20, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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