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Community Health Systems Inc (CYH) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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Community Health Systems Inc

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CIK: 1108109 Ticker: CYH

Exhibit 99.1

 

LOGO  

 

Investor Contact:   Kevin Hammons
  President and
  Chief Financial Officer
  (615) 465-7000

COMMUNITY HEALTH SYSTEMS, INC. ANNOUNCES FIRST QUARTER

ENDED MARCH 31, 2022 RESULTS

 

 

FRANKLIN, Tenn. (April 27, 2022) – Community Health Systems, Inc. (NYSE: CYH) (the “Company”) today announced financial and operating results for the three months ended March 31, 2022.

The following highlights the financial and operating results for the three months ended March 31, 2022.

 

  •  

Net operating revenues totaled $3.111 billion.

 

  •  

Net loss attributable to Community Health Systems, Inc. stockholders was $(1) million, or $(0.01) per share (diluted), compared to $(64) million, or $(0.51) per share (diluted), for the same period in 2021. Excluding the adjusting items as presented in the table in footnote (e) on page 12, net income attributable to Community Health Systems, Inc. stockholders was $0.14 per share (diluted), compared to $0.36 per share (diluted) for the same period in 2021.

 

  •  

Adjusted EBITDA was $409 million, including $47 million of pandemic relief funds.

 

  •  

Net cash provided by operating activities was $101 million for both of the three-month periods ended March 31, 2022 and 2021.

 

  •  

On a same-store basis, admissions decreased 0.3 percent and adjusted admissions increased 3.2 percent, compared with the same period in 2021.

Net operating revenues for the three months ended March 31, 2022, totaled $3.111 billion, a 3.3 percent increase compared with $3.013 billion for the same period in 2021.

Net loss attributable to Community Health Systems, Inc. stockholders was $(1) million, or $(0.01) per share (diluted), for the three months ended March 31, 2022, compared to $(64) million, or $(0.51) per share (diluted), for the same period in 2021. Excluding the adjusting items as presented in the table in footnote (e) on page 12, net income attributable to Community Health Systems, Inc. stockholders was $0.14 per share (diluted) for the three months ended March 31, 2022, compared to $0.36 per share (diluted) for the same period in 2021. Pandemic relief funds, as more specifically described below, had a positive impact on net loss attributable to Community Health Systems, Inc. stockholders (both on a consolidated and adjusted basis) of approximately $35 million, or $0.27 on a per share (diluted) basis, and approximately $62 million, or $0.54 on a per share (diluted) basis, for the three months ended March 31, 2022 and 2021, respectively. Weighted-average shares outstanding (diluted) were 128 million and 126 million for the three months ended March 31, 2022 and 2021, respectively.

Adjusted EBITDA for the three months ended March 31, 2022, was $409 million compared with $495 million for the same period in 2021. Pandemic relief funds had a positive impact on Adjusted EBITDA of approximately $47 million and $82 million for the three months ended March 31, 2022 and 2021, respectively.

 

 

-MORE-

The following information was filed by Community Health Systems Inc (CYH) on Wednesday, April 27, 2022 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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Inside Community Health Systems Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Loss
Condensed Consolidated Statements Of Loss
Accounting For Stock-Based Compensation
Accounting For Stock-Based Compensation (Tables)
Accounting For Stock-Based Compensation - Additional Information (Details)
Accounting For Stock-Based Compensation - Schedule Of Share-Based Compensation Expense (Details)
Accounting For Stock-Based Compensation - Schedule Of Share-Based Compensation, Restricted Stock Units, Activity (Details)
Accounting For Stock-Based Compensation - Schedule Of Share-Based Compensation, Restricted Stock, Activity (Details)
Accounting For Stock-Based Compensation - Schedule Of Share-Based Compensation, Stock Options, Activity (Details)
Accounting For Stock-Based Compensation - Schedule Of Share-Based Payment Awards, Stock Options, Valuation Assumptions (Details)
Acquisitions And Divestitures
Acquisitions And Divestitures (Tables)
Acquisitions And Divestitures - Acquisitions - Additional Information (Details)
Acquisitions And Divestitures - Divestitures - Additional Information (Details)
Acquisitions And Divestitures - Schedule Of Divestitures (Details)
Basis Of Presentation And Significant Accounting Policies
Basis Of Presentation And Significant Accounting Policies (Policies)
Basis Of Presentation And Significant Accounting Policies (Tables)
Basis Of Presentation And Significant Accounting Policies - Additional Information (Details)
Basis Of Presentation And Significant Accounting Policies - Schedule Of Net Operating Revenues (Details)
Contingencies
Contingencies (Tables)
Contingencies - Schedule Of Reconciliation Of The Beginning And Ending Liability Balances In Connection With Probable Contingencies (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Details)
Earnings Per Share - Schedule Of Antidilutive Securities (Details)
Earnings Per Share - Schedule Of Components Of Denominator For Computation Of Basic And Diluted Earnings Per Share (Details)
Fair Value
Fair Value (Tables)
Fair Value - Additional Information (Details)
Fair Value - Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Tables)
Fair Value Of Financial Instruments - Schedule Of Estimated Fair Value Of Financial Instruments, By Balance Sheet Grouping (Details)
Fair Value Of Financial Instruments - Schedule Of Estimated Fair Value Of Financial Instruments, By Balance Sheet Grouping (Parenthetical) (Details)
Income Taxes
Income Taxes - Additional Information (Details)
Leases
Leases (Tables)
Leases - Components Of Lease Cost And Rent Expense (Details)
Leases - Supplemental Balance Sheet Information Related To Leases (Details)
Leases - Supplemental Cash Flow And Other Information Related To Leases (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - 5.250% Senior Secured Notes, Due 2030 - Additional Information (Details)
Long-Term Debt - Other Debt - Additional Information (Details)
Long-Term Debt - Schedule Of Debt (Details)
Long-Term Debt - Schedule Of Debt (Parenthetical) (Details)
Long-Term Debt - Schedule Of Early Redemption Prices On 5.250% Senior Notes, Due 2030 (Details)
Stockholders' Deficit
Stockholders' Deficit (Tables)
Stockholders' Deficit - Additional Information (Details)
Stockholders' Deficit - Schedule Of Impact Of Noncontrolling Interest To Stockholders' Deficit (Details)
Stockholders' Deficit - Schedule Of Stockholders' Deficit (Details)
Ticker: CYH
CIK: 1108109
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-22-016465
Submitted to the SEC: Thu Apr 28 2022 4:28:32 PM EST
Accepted by the SEC: Thu Apr 28 2022
Period: Thursday, March 31, 2022
Industry: General Medical And Surgical Hospitals

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