Community Health Systems Q2 Results Top Estimates

(RTTNews) - Community Health Systems Inc. (CYH) reported that its net loss attributable to stockholders for the second quarter narrowed to $38 million or $0.29 per share from $326 million or $2.52 per share in the same quarter last year, primarily due to higher inpatient and outpatient volumes, increased reimbursement rates, higher acuity, an increase in non-patient revenue, and lower costs for contract labor, partially offset by higher costs for professional liability insurance and increased rates for outsourced medical specialists.

CYH closed Wednesday regular trading at $4.14 down $0.26 or 5.91%. But in the after-hours trading, the stock gained $0.44 or 10.63%.

Excluding certain items, net loss attributable to stockholders for the second quarter was $0.22 per share compared to a loss of $2.52 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.27 per share. Analysts' estimates typically exclude special items.

Net operating revenues for the quarter totaled $3.115 billion, a 6.2 percent increase from $2.934 billion last year. On a same-store basis, net operating revenues increased 9.2 percent from the previous year. Analysts expected revenue of $3.04 billion for the quarter.

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