CYH
Community Health Systems, Inc.3.2500
+0.0300+0.93%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Divestitures near end; HICS hit quantified.
Q&A reveals CHS nearing the end of programmatic divestitures, eyeing only opportunistic deals amid inbound interest, while expressing comfort with the streamlined portfolio of networked hospitals. Management quantified a $20M-$30M EBITDA headwind from potential health exchange enrollment drops—less than 5% of revenue—but highlighted low margins and uncollected copays on that ED-heavy business. ERP saved $50M last year with more ahead; AI tools roll out for revenue cycle, appeals, and clinical safety. Volumes face early-year softness from consumer confidence, but back-half EBITDA ramps expected. Programmatic sales wind down. Core ops growth nets ~4%; watch leverage and investment returns.
Key Stats
Market Cap
455.39MP/E (TTM)
1.33Basic EPS (TTM)
2.45Dividend Yield
0%Recent Filings
8-K
Sells four AR hospitals for $112M
Community Health Systems subsidiary signed an asset purchase agreement on March 5, 2026, to sell four Arkansas hospitals—Northwest Medical Center Bentonville, Springdale, Willow Creek Women's, and Siloam Springs Regional—to Freeman Health System for $112 million, subject to adjustments. Closing is expected in Q2 2026, pending approvals. These divestitures align with prior earnings call plans. Deal risks include failure to meet closing conditions.
10-K
FY2025 results
Community Health Systems swung to $509M net income in FY2025 ended December 31, 2025 (4.1% of $12.5B revenues, down 1.2% y/y), driven by $406M net divestiture gains from selling four hospitals and lab outreach (annualized $792M prior revenues) while same-store revenues rose 4.6% on higher reimbursement and supplemental payments, offsetting divestiture drag. Same-store admissions grew 1.5% y/y with 12.4% operating margins (up from 12.1%), reflecting margin gains from supply efficiencies and lower professional liability reserves, yet Q4 trends unavailable. Operating cash flow hit $543M (up 13%); debt refinanced to extend maturities with $786M ABL availability. No annual guidance disclosed. Heightened regulatory scrutiny of Medicare/Medicaid reimbursement could stall quarterly momentum.
8-K
Q4 profit, lower EBITDA
Community Health Systems swung to Q4 net income of $110M ($0.81/share) from a $70M loss, yet Adjusted EBITDA fell to $395M amid divestitures shrinking hospitals to 69. Full-year revenues dipped 1.2% to $12.485B while same-store rose 4.6%; debt redemptions cut notes by $237M. Issues 2026 guidance: $11.6B-$12B revenues, $1.34B-$1.49B Adjusted EBITDA. Divestitures reshape the portfolio.
8-K
2026 NEO comp approved
Community Health Systems approved 2026 compensation for CEO Kevin Hammons ($1.25M base, 215% target incentive), CFO Jason Johnson ($630K base, 115%), and EVP Kevin Stockton ($740K base, 95%). Equity grants vest March 1, 2026: Hammons gets 200K options, 200K time-vested RSUs, 400K performance RSUs over 2026-2028. Aligns pay with multi-year goals. Board ties rewards to operations.
8-K
CYH sells Clarksville hospital stake
Community Health Systems completed the sale of its 80% stake in the joint ventures owning Tennova Healthcare-Clarksville, a 270-bed hospital, to Vanderbilt University Medical Center on February 1, 2026, for $623 million in cash before expenses. The deal nets a $249 million pre-tax gain, boosting pro forma cash to $712 million and cutting nine-month revenues by $230 million. Sale shrinks footprint. Post-closing adjustments pending.
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