CYH

FRANKLIN, Tenn., May 06, 2026--(BUSINESS WIRE)--Community Health Systems, Inc. (the "Company") (NYSE: CYH) today announced certain matters with respect to its cash tender offer previously announced on April 22, 2026 (as it may be amended from time to time, the "Tender Offer") by its wholly owned subsidiary, CHS/Community Health Systems, Inc. (the "Issuer"), to purchase for cash up to $600,000,000 aggregate purchase price (exclusive of accrued and unpaid interest, the "Aggregate Maximum Purchase Amount") of (i) its outstanding 4.750% Senior Secured Notes due 2031 (the "2031 Notes") and (ii) its outstanding 10.875% Senior Secured Notes due 2032 (the "2032 Notes" and, together with the 2031 Notes, the "Notes"), subject to possible proration and other terms and conditions set forth in the Offer to Purchase (as defined below). Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Offer to Purchase dated April 22, 2026 (the "Offer to Purchase") with respect to the Tender Offer. As of the Early Tender Date for the Tender Offer, $994,822,000 aggregate principal amount of the 2031 Notes (94.05%) were validly tendered and not validly withdrawn, and $822,029,000 aggregate principal amount of the 2032 Notes (46.18%) were validly tendered and not validly withdrawn. Based upon the aggregate principal amount of 2031 Notes that were validly tendered and not validly withdrawn as of the Early Tender Date, the proration factor with respect to the 2031 Notes is approximately 37.07%. Based upon the aggregate principal amount of 2032 Notes that were validly tendered and not validly withdrawn as of the Early Tender Date, the proration factor with respect to the 2032 Notes is approximately 28.14%. As a result, (i) $368,421,000 aggregate principal amount of the 2031 Notes that were validly tendered and not validly withdrawn at or before the Early Tender Date will be accepted for purchase by the Issuer on the Early Settlement Date, and (ii) $230,946,000 aggregate principal amount of the 2032 Notes that were validly tendered and not validly withdrawn at or before the Early Tender Date will be accepted for purchase by the Issuer on the Early Settlement Date. All such Notes that have been accepted will be settled on the Early Settlement Date in accordance with the terms of the Tender Offer as set forth in the Offer to Purchase, including pro...

CHS reported Q1 adjusted EBITDA of $309 million, down 17.8% y/y with a 10.4% margin, as volumes and payer mix missed expectations and recent divestitures created roughly a $50 million year‑over‑year EBITDA drag. Cash flow from operations was a use of $297 million driven by timing items, but CHS completed divestitures generating over $1.1 billion of gross proceeds, redeemed $223 million of 2032 notes and reduced leverage to about 6.5x, while keeping 2026 adjusted EBITDA guidance at $1.34B–$1.49B. Management cited broad demand softness—especially elective procedures like hips and knees and weaker commercial/exchange patients—but is investing in outpatient surgical capacity (multiple ASC deals) and physician additions that increase near‑term costs to position for future recovery. Interested in Community Health Systems, Inc.? Here are five stocks we like better. Tenet Healthcare Stock Sees Strong Gains from Acute Care Boom Community Health Systems (NYSE:CYH) executives told investors the company’s first-quarter 2026 performance landed at the low end of internal expectations as volumes and payer mix came in below plan, while recently divested operations weighed on profitability. Chief Executive Officer Kevin Hammons said adjusted EBITDA declined 17.8% year over year, citing strategic transactions to reduce debt, “macroeconomic disruptions across the country,” and ongoing investments. He noted the quarter included roughly a $50 million year-over-year EBITDA drag from divestitures that shifted from positive contributors in the prior-year period to negative results in the first quarter. Hammons said closing these divestitures will remove that negative drag from future quarters. → Credo Stock Flashes Strong Bullish Signal—Upswing Just Starting Healthcare Stock Rides the Acute Services Phenomenon to New Highs Executive Vice President and Chief Financial Officer Jason Johnson reported adjusted EBITDA of $309 million, with an adjusted EBITDA margin of 10.4%. Johnson said recently divested hospitals generated about $25 million of negative adjusted EBITDA in the first quarter, compared with a $25 million positive contribution in the prior-year period. He added that part of the negative results from hospitals divested in the first quarter was attributable to Winter Storm Gianna. On the revenue side, Hammons said same-store net revenue increased 3.1% year over year, driven...

This story was originally published on Healthcare Dive. To receive daily news and insights, subscribe to our free daily Healthcare Dive newsletter. Declining admissions and headwinds from recent divestitures dragged for-profit hospital operator Community Health Systems’ earnings into the red during the first quarter, according to results posted this week. CHS posted a $58 million loss in the first quarter, compared to a $13 million loss in the prior-year period. Executives said on a Wednesday morning call with Wall Street investors that it believed its low admissions in the quarter were a “temporary” disruption due to flagging consumer confidence, macroeconomic headwinds and “aggressive” actions from insurance companies. “CHS delivered financial results toward the low end of expectations,”CFO Jason Johnson said on the call. CHS called out last quarter that it could see lower volumes in the first half of 2026 given that consumer confidence was muted at the end of the year. Executives said they expect volume growth to pick up in the back half to help CHS meet its guidance of low single-digit volume growth at the end of the year. Same-store adjusted volumes declined 1.3%, while adjusted admissions fell 0.5% in the quarter compared to the prior-year period. When accounting for divestitures and other factors, consolidated volumes fell more than 10%. Some of the volume loss was driven by “softness” in elective procedures like hip and knee surgeries, Johnson said. Same-store surgeries declined 2.2% compared to the prior-year period. Volume pressures weren’t concentrated in any one market, CEO Kevin Hammons said on the call. Rather, executives said demand for healthcare was down in the first quarter due to “consumer fears” like political instability, the increased cost of living, a poor job market and the U.S.’ war with Iran. Care denials from insurers also didn’t help, according to Hammons, including the “aggressive practices used by the managed care companies that drive inefficiency, unnecessarily delay payment and interfere with the delivery of medical care.” “They’ve turned the dial up on denying pre-authorizations in more cases,” the CEO said. Although volume pressures were “across the board,” CHS believes admissions declines were concentrated in patients with commercial and Affordable Care Act coverage. Adjusted admissions for patients with exchange coverage —...

This article first appeared on GuruFocus. Adjusted EBITDA: $309 million, margin of 10.4%, declined 17.8% year-over-year. Same-Store Net Revenue: Increased 3.1% year-over-year. Net Revenue per Adjusted Admission: Up 3.7% year-over-year. Same-Store Adjusted Admissions: Declined 0.5% year-over-year. Same-Store Inpatient Admissions: Declined 1.3% year-over-year. Same-Store Surgeries: Declined 2.2% year-over-year. Same-Store ED Visits: Down 2.8% year-over-year. Labor Cost: Average hourly rate growth of approximately 2% year-over-year. Same-Store Contract Labor Spend: Down 11% from the prior year period. Salaries and Benefits: Increased 50 basis points as a percentage of revenue year-over-year. Supplies Expense: Declined 60 basis points to 14.9% of net revenue. Medical Specialist Fees: Up approximately 11% year-over-year on a same-store basis. Cash Flows from Operations: Use of $297 million versus positive $120 million in the prior year period. Net Debt: Approximately $9.3 billion following divestitures, down from $10.1 billion at year-end 2025. Leverage Ratio: 6.5 times at quarter end, down from 6.6 times at year-end 2025. Warning! GuruFocus has detected 6 Warning Signs with CYH. Is CYH fairly valued? Test your thesis with our free DCF calculator. Release Date: April 22, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Community Health Systems Inc (NYSE:CYH) announced significant investments in ambulatory surgery centers, including a major acquisition in Alabama, which is expected to drive future growth. The company is realizing operational improvements, with expectations of 80% of its hospitals receiving a Leapfrog A or B grade, up from 48% the previous year. Community Health Systems Inc (NYSE:CYH) is actively engaging with policymakers to ensure funding for rural health programs, which could benefit its operations in underserved markets. The company has successfully reduced its leverage, with net debt expected to decrease to approximately $9.3 billion following the divestiture of Arkansas hospitals. Labor costs were well managed, with a 2% year-over-year growth in average hourly rate and a reduction in contract labor spend by 11% from the prior year period. Adjusted EBITDA for the first quarter was on the low end of expectations, declining 17.8% from the prior year period. The company experienced volume a...

Community Health Systems (CYH) reported $2.97 billion in revenue for the quarter ended March 2026, representing a year-over-year decline of 6.1%. EPS of -$0.48 for the same period compares to -$0.03 a year ago. The reported revenue represents a surprise of -1.06% over the Zacks Consensus Estimate of $3 billion. With the consensus EPS estimate being -$0.18, the EPS surprise was -171.65%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Community Health Systems performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Adjusted admissions: 206,496 versus the two-analyst average estimate of 210,747. Patient days: 409,776.00 Days versus 422,447.10 Days estimated by two analysts on average. Beds in Service: 8,225 compared to the 7,718 average estimate based on two analysts. Same-store occupancy rate (average beds in service): 53.9% versus the two-analyst average estimate of 60.8%. Number of Hospitals: 65 versus 65 estimated by two analysts on average. Admissions: 94,522 versus 92,002 estimated by two analysts on average. Licensed Beds: 9,530 compared to the 9,509 average estimate based on two analysts. View all Key Company Metrics for Community Health Systems here>>> Shares of Community Health Systems have returned +5.7% over the past month versus the Zacks S&P 500 composite's +9.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term. 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 Community Health Systems, Inc. (CYH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Adjusted EBITDA performance landed at the low end of internal expectations, primarily impacted by a $50 million year-over-year drag from recently completed divestitures. Management attributes volume and payer mix challenges to temporary macroeconomic disruptions, specifically citing consumer fears regarding geopolitical instability and rising living costs. Aggressive managed care practices, including increased preauthorization denials, are identified as significant drivers of delayed payments and inefficient medical care delivery. Strategic investments in physician experience, such as ambient listening technology, aim to reduce administrative burdens and optimize face-to-face patient care time. Significant quality improvements were realized, with 80% of hospitals expected to receive Leapfrog A or B grades, up from 48% in the prior year period. The company is pivoting toward a 'network of care' strategy, acquiring majority interests in high-volume surgery centers to extend outpatient capabilities in core markets. Full-year 2026 guidance remains unchanged, assuming that the back half of the year will carry a heavier weight as economic conditions potentially stabilize. Volume recovery is anticipated as deferred elective procedures return to the system, with the company maintaining a low single-digit volume growth target for the year. Management expects to collect a $50 million to $60 million buildup in Medicare Advantage accounts receivable throughout the remainder of the year. The pending $112 million divestiture of four Arkansas hospitals is expected to close in Q2 2026, with proceeds intended for further debt reduction and growth investments. Guidance methodology currently excludes potential upside from the Rural Health Transformation Fund and new state-directed payment programs due to insufficient early-stage data. Winter Storm Firm contributed to negative EBITDA results for hospitals divested during the first quarter. A $25 million benefit from the Georgia State Directed Payment Program was partially offset by out-of-period Indiana provider tax increases. Following the completion of the Arkansas divestiture, net debt is expected to be approximately $9.3 billion, down from $10.1 billion at year-end 2025 and $11.4 billion at year-end 2024. Medical specialist fees grew 11% year-over-year, exceeding the forecasted range of 5% to 8%. Our analysts just identifie...

FRANKLIN, Tenn., April 07, 2026--(BUSINESS WIRE)--Community Health Systems, Inc. (NYSE: CYH) today announced that it will webcast its first quarter 2026 conference call. The Company will issue a press release announcing its results on Tuesday, April 21, 2026, after the regular close of trading. The conference call is scheduled to begin at 10:00 a.m. Central Time, 11:00 a.m. Eastern Time, on Wednesday, April 22, 2026. During this call, Community Health Systems will review the Company’s financial and operating results for the first quarter ended March 31, 2026. A live webcast of the conference call will be available online at https://www.chs.net/investor-relations/investor-tools/webcasts/. An online replay will follow shortly after the call and continue for approximately 30 days. You can join the live call by dialing 1-833-630-1961 (domestic) or 1-412-317-1842 (international). Once connected, request to be joined into the Community Health Systems, Inc. call. A telephonic replay of the conference call will be available through April 29, 2026, by dialing 1-855-669-9658 and entering the confirmation number, 5811463. About Community Health Systems, Inc. Community Health Systems, Inc. is one of the nation’s largest healthcare companies. The Company’s affiliates are leading providers of healthcare services, developing and operating healthcare delivery systems in 33 distinct markets across 13 states. The Company’s subsidiaries own or lease 64 affiliated hospitals with more than 9,000 beds and operate more than 900 sites of care, including physician practices, urgent care centers, freestanding emergency departments, occupational medicine clinics, imaging centers, cancer centers and ambulatory surgery centers. The Company’s headquarters are located in Franklin, Tennessee, a suburb south of Nashville. Shares in Community Health Systems, Inc. are traded on the New York Stock Exchange under the symbol "CYH." More information about the Company can be found on its website at www.chs.net. View source version on businesswire.com: https://www.businesswire.com/news/home/20260407997105/en/ Contacts Investor Contacts: Kevin J. Hammons Chief Executive Officer (615) 465-7000 Anton Hie Vice President – Investor Relations (615) 465-7012

A month has gone by since the last earnings report for Community Health Systems (CYH). Shares have lost about 14.8% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Community Health Systems due for a breakout? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for Community Health Systems, Inc. before we dive into how investors and analysts have reacted as of late. Community Health Q4 Earnings Beat Estimates on Lower Expenses Community Health reported break-even earnings per share in the quarter, outperforming the Zacks Consensus Estimate of a loss of 32 cents. The bottom line improved from a loss of 42 cents in the prior-year quarter. Net operating revenues declined 4.9% year over year to $3.1 billion in the quarter under review and missed the consensus estimate by 1.2%. The quarterly earnings benefited from lower operating expenses. The positives were partly offset by a decrease in patient days, occupancy rate and adjusted admissions. Community Health Systems reported revenues of $12.5 billion, down from $12.6 billion in the prior year. The company posted adjusted operating income of $1.19 per share compared with an adjusted operating loss of $1.03 a year ago, reflecting significant bottom-line improvement. Full-year adjusted EBITDA slipped marginally to $1.52 billion from $1.54 billion in the previous year. The total operating expenses declined to $11 billion from $12.1 billion in 2024. At the end of the fourth quarter, Community Health operated 69 hospitals, down from 76 in the year-ago period. Patient days declined 8.5% year over year, while the average length of stay decreased 2.3% to 4.2 days. Occupancy rate slipped to 49.6% from 50.5% in the prior-year quarter. Adjusted admissions fell 6.8% year over year in the quarter under review. On a same-store basis, admissions edged down 0.3% from the corresponding prior-year period. As of Dec. 31, 2025, CYH had 10,458 licensed beds, reflecting an 8.3% decline from the year-ago quarter. The reported figure was lower than both the Zacks Consensus Estimate and our estimate of 10,478. Total operating expenses declined 11.1% year over year to $2.7 billion in the fourth quarter, primarily due to lower supplies, other op...

Transitioned shareholder base to approximately 70% institutional ownership following the first full year as a publicly traded company. Acquired six healthcare facilities in 2025 for $150 million, focusing on modern construction and high-quality tenant sponsorship in the 'Sila mold'. Achieved a 90% retention rate on expiring leases, with non-renewals representing only 0.5% of Annual Base Rent (ABR). Improved tenant credit quality by increasing investment-grade rated tenant guarantors to 40.6% of the portfolio. Successfully transitioned the Fayetteville facility to an investment-grade regional hospital system, reducing exposure to Community Health Systems. Executed strategic dispositions, including the Saginaw facility and pending sales in Nevada and Virginia, to optimize portfolio construction. Maintained high portfolio utilization with 99.9% of properties under triple-net lease structures to ensure durable income streams. Anticipates 2026 acquisition volume to remain similar to 2025 levels, driven by market conditions and a 24-month buying capacity. Prioritizing internal redevelopment and expansion opportunities which typically yield 150 to 200 basis points higher than market capitalization rates. Targets a leverage range of 4.5x to 5.5x net debt to EBITDAre, providing over $200 million in immediate deployment capacity. Expects the 'Silver Tsunami' demographic shift to drive increased outpatient spending and patient volumes through 2030. Plans to complete the Stoughton facility demolition by the end of Q1 2026, reducing monthly carrying costs from $120,000 to $35,000. Reported a 5.8% decrease in AFFO per share primarily due to increased interest expense from new swaps entered at the end of 2024. Noted a significant reduction in one-time lease termination fees, dropping from over $6 million in 2024 to less than $300,000 in 2025. Identified a known 2026 conversion of a single-tenant property to multi-tenant, with 40% of the space (0.3% of ABR) requiring re-leasing. Highlighted the acquisition of OneOncology by Cencora, which will provide common control for seven former GenesisCare master leased properties. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management observes market cap rates for rehab facilities in the 6.75% to 7.5% range and MOB/ASC assets b...

Q4 results met expectations: adjusted EBITDA was $395 million (12.7% margin) with same-store net revenue up 2.1% year-over-year, though volumes were mixed (slight declines in admissions, surgeries and ED visits). Portfolio and balance-sheet progress: CHS is nearing the end of programmatic divestitures, used sale proceeds to redeem high-coupon debt, and reduced leverage to 6.6x (net debt expected to fall to about $9.2 billion after the planned Huntsville sale). 2026 guidance and key headwinds: management guided to adjusted EBITDA of $1.34–1.49 billion and noted the range is lower due to divestitures and one-off 2025 benefits, while calling out exchange enrollment uncertainty, specialist-fee inflation, and a ~ $140 million cash-flow headwind from having 27 pay periods; ERP and AI initiatives have already produced roughly $50 million of savings. Interested in Community Health Systems, Inc.? Here are five stocks we like better. Tenet Healthcare Stock Sees Strong Gains from Acute Care Boom Community Health Systems (NYSE:CYH) executives said the hospital operator’s fourth-quarter results came in line with updated expectations, citing sequential margin expansion, a modest improvement in payer mix, and continued cost controls. On the company’s fourth-quarter and full-year 2025 earnings call, newly appointed Chief Executive Officer Kevin Hammons and Chief Financial Officer Jason Johnson also outlined a portfolio strategy that is moving toward the “end” of programmatic divestitures while emphasizing targeted investments in core markets and further debt reduction. Johnson said adjusted EBITDA in the fourth quarter totaled $395 million, representing a 12.7% margin, and that results were “generally consistent with expectation.” The company achieved the midpoint of its updated full-year 2025 guidance, he said, aided by sequential margin improvement. → Corning’s Surprise AI Boom: Is It Already Too Late to Buy? Healthcare Stock Rides the Acute Services Phenomenon to New Highs Same-store net revenue increased 2.1% year-over-year in the quarter, driven primarily by rate growth and slightly higher acuity. Net revenue per adjusted admission rose 2.4% on a same-store basis. At the same time, volumes were mixed: Same-store inpatient admissions and adjusted admissions each declined 0.3%. Same-store surgeries fell 1.9%. Same-store emergency department (ED) visits declined 3.6%. Whe...

This article first appeared on GuruFocus. Same-Store Net Revenue Growth: Increased 2.1% year-over-year in Q4 2025. Net Revenue per Adjusted Admission: Up 2.4% year-over-year in Q4 2025. Adjusted EBITDA: $395 million with a margin of 12.7% for Q4 2025. Same-Store Inpatient Admissions: Down 0.3% year-over-year in Q4 2025. Same-Store Surgeries: Declined 1.9% year-over-year in Q4 2025. Cash Flows from Operations: $266 million for Q4 2025; $543 million for the full year 2025. Leverage Ratio: Reduced from 7.4 times at year-end 2024 to 6.6 times at year-end 2025. Net Debt: Expected to be approximately $9.2 billion post-Huntsville divestiture. 2026 Financial Guidance: Net revenue of $11.6 billion to $12.0 billion; Adjusted EBITDA of $1.34 billion to $1.49 billion. Warning! GuruFocus has detected 5 Warning Signs with CYH. Is CYH fairly valued? Test your thesis with our free DCF calculator. Release Date: February 19, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Community Health Systems Inc (NYSE:CYH) achieved a sequential margin expansion in the fourth quarter of 2025, with adjusted EBITDA reaching $395 million and a margin of 12.7%. The company reported a 2.1% year-over-year increase in same-store net revenue for the fourth quarter, driven by a 2.4% increase in net revenue per adjusted admission. Significant investments in specific markets, such as the ER expansion in Knoxville and women's services in Birmingham, have led to notable growth in ER visits and births, respectively. CYH successfully reduced its leverage from 7.4 times at the end of 2024 to 6.6 times at the end of 2025, with plans for further debt reduction in 2026. The company has turned free cash flow positive, reporting adjusted free cash flows of $150 million for 2025, marking a significant financial improvement. Same-store inpatient admissions and adjusted admissions were each down 0.3% year-over-year, with surgeries declining by 1.9% and ED visits down by 3.6%. The company faces potential headwinds from economic and regulatory disruptions, impacting patient behavior and creating uncertainty in reimbursement and insurance coverage. CYH anticipates upward pressure on medical specialist fees, expecting growth in the range of 5% to 8% for 2026, driven by radiology and anesthesia costs. The initial 2026 financial guidance reflects a decrease in...