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Exhibit Number

99.1

 

Investor Contact:   

Kevin Hammons

Executive Vice President

and Chief Financial Officer

(615) 465-7000

        

COMMUNITY HEALTH SYSTEMS, INC. ANNOUNCES FOURTH QUARTER

AND YEAR ENDED DECEMBER 31, 2019 RESULTS AND 2020 GUIDANCE

 

 

FRANKLIN, Tenn. (February 19, 2020) – Community Health Systems, Inc. (NYSE: CYH) (the “Company”) today announced financial and operating results for the three months and year ended December 31, 2019.

The following highlights the financial and operating results for the three months ended December 31, 2019.

 

   

Net operating revenues totaled $3.286 billion.

 

   

Net loss attributable to Community Health Systems, Inc. common stockholders was $(373) million, or $(3.27) per share (diluted), compared with net loss of $(328) million, or $(2.91) per share (diluted), for the same period in 2018. Excluding the adjusting items as presented in the table in footnote (e) on page 15, net income attributable to Community Health Systems, Inc. common stockholders was $0.40 per share (diluted), compared to net loss of $(0.42) per share (diluted) for the same period in 2018.

 

   

Adjusted EBITDA was $447 million.

 

   

Net cash provided by operating activities was $194 million, compared with net cash used in operating activities of $165 million for the same period in 2018, which prior-year period included $266 million paid for the Health Management Associates, Inc. (“HMA”) legal settlement during the quarter.

 

   

On a same-store basis, admissions increased 0.1 percent and adjusted admissions increased 1.8 percent, compared with the same period in 2018.

Net operating revenues for the three months ended December 31, 2019, totaled $3.286 billion, a 4.8 percent decrease, compared with $3.453 billion for the same period in 2018.

Net loss attributable to Community Health Systems, Inc. common stockholders was $(373) million, or $(3.27) per share (diluted), for the three months ended December 31, 2019, compared with $(328) million, or $(2.91) per share (diluted), for the same period in 2018. Excluding the adjusting items as presented in the table in footnote (e) on page 15, net income attributable to Community Health Systems, Inc. common stockholders was $0.40 per share (diluted), for the three months ended December 31, 2019, compared to net loss of $(0.42) per share (diluted) for the same period in 2018. Weighted-average shares outstanding (diluted) were 114 million for the three months ended December 31, 2019, and 113 million for the three months ended December 31, 2018.

Adjusted EBITDA for the three months ended December 31, 2019, was $447 million compared with $419 million for the same period in 2018, representing a 6.7 percent increase.

The consolidated operating results for the three months ended December 31, 2019, reflect a 9.9 percent decrease in admissions and an 8.6 percent decrease in adjusted admissions, compared with the same period in 2018. On a same-store basis, admissions increased 0.1 percent and adjusted admissions increased 1.8 percent for the three months ended December 31, 2019, compared with the same period in 2018. On a same-store basis, net operating revenues increased 3.7 percent for the three months ended December 31, 2019, compared with the same period in 2018.

 

-MORE-


The following information was filed by Community Health Systems Inc (CYH) on Wednesday, February 19, 2020 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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