Community Health Systems Files Q3 2024 10-Q

TL;DR

CHS filed its Q3 10-Q. Financials look steady, debt details updated.

AI Summary

Community Health Systems Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial metrics and disclosures related to long-term debt and equity are presented, reflecting the company's ongoing financial activities and reporting obligations.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Community Health Systems, Inc., crucial for understanding the company's current financial health and operational status.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the healthcare sector can be subject to regulatory and reimbursement risks not detailed here.

Key Numbers

• 5.625% — Interest Rate (Related to long-term debt obligations.)
• 10.875% — Interest Rate (Related to long-term debt obligations.)
• 6.875% — Interest Rate (Related to long-term debt obligations.)

Key Players & Entities

• COMMUNITY HEALTH SYSTEMS INC (company) — Filer
• 4000 MERIDIAN BOULEVARD (location) — Business Address
• FRANKLIN (location) — Business Address City
• TN (location) — Business Address State
• 37067 (location) — Business Address Zip
• 20240930 (date) — Report Period End Date
• 20241024 (date) — Filing Date

FAQ

Key Financial Figures

• $0.01 — hares of the Registrant's Common Stock, $0.01 par value. Community Health Systems,
• $63 million — n, comprised of a gain of approximately $63 million related to the sale of three hospitals,

Filing Documents

• cyh-20240930.htm (10-Q) — 2584KB
• cyh-ex2_2.htm (EX-2.2) — 676KB
• cyh-ex31_1.htm (EX-31.1) — 15KB
• cyh-ex31_2.htm (EX-31.2) — 15KB
• cyh-ex32_1.htm (EX-32.1) — 6KB
• cyh-ex32_2.htm (EX-32.2) — 6KB
• 0000950170-24-117088.txt ( ) — 12893KB
• cyh-20240930.xsd (EX-101.SCH) — 1272KB
• cyh-20240930_htm.xml (XML) — 3010KB

Financial Statements

Financial Statements: Condensed Consolidated Statements of Loss – Three and Nine Months Ended September 30, 2024 and September 30, 2023 (Unaudited) 2 Condensed Consolidated Statements of Comprehensive Loss – Three and Nine Months Ended September 30, 2024 and September 30, 2023 (Unaudited) 3 Condensed Consolidated Balance Sheets – September 30, 2024 and December 31, 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows – Nine Months Ended September 30, 2024 and September 30, 2023 (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 42 Item 4.

Controls and Procedures

Controls and Procedures 42 Part II. Other Information 43 Item 1.

Legal Proceedings

Legal Proceedings 43 Item 1A.

Risk Factors

Risk Factors 44 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45 Item 3. Defaults Upon Senior Securities 45 Item 4. Mine Safety Disclosures 45 Item 5. Other Information 45 Item 6. Exhibits 46

Signatures

Signatures 47 COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STA TEMENTS OF LOSS (In millions, except share and per share data) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Net operating revenues $ 3,090 $ 3,086 $ 9,369 $ 9,308 Operating expenses: Salaries and benefits 1,359 1,338 4,054 4,040 Supplies 469 489 1,439 1,499 Other operating expenses 1,010 853 2,737 2,524 Lease cost and rent 73 79 224 240 Depreciation and amortization 117 128 357 384 Impairment and (gain) loss on sale of businesses, net 267 26 294 ( 9 ) Total operating expenses 3,295 2,913 9,105 8,678 (Loss) income from operations ( 205 ) 173 264 630 Interest expense, net 216 208 643 621 Gain from early extinguishment of debt — — ( 25 ) — Equity in earnings of unconsolidated affiliates ( 2 ) ( 2 ) ( 7 ) ( 5 ) (Loss) income before income taxes ( 419 ) ( 33 ) ( 347 ) 14 (Benefit from) provision for income taxes ( 64 ) 19 ( 13 ) 84 Net loss ( 355 ) ( 52 ) ( 334 ) ( 70 ) Less: Net income attributable to noncontrolling interests 36 39 112 110 Net loss attributable to Community Health Systems, Inc. stockholders $ ( 391 ) $ ( 91 ) $ ( 446 ) $ ( 180 ) Loss per share attributable to Community Health Systems, Inc. stockholders: Basic $ ( 2.95 ) $ ( 0.69 ) $ ( 3.38 ) $ ( 1.38 ) Diluted $ ( 2.95 ) $ ( 0.69 ) $ ( 3.38 ) $ ( 1.38 ) Weighted-average number of shares outstanding: Basic 132,376,226 130,698,907 131,998,973 130,352,865 Diluted 132,376,226 130,698,907 131,998,973 130,352,865 See accompanying notes to the condensed consolidated financial statements. 2 COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES CON

View Full Filing

View this 10-Q filing on SEC EDGAR