Community Health Systems Turns To Profit In Q2

(RTTNews) - Community Health Systems Inc. (CYH) reported a second-quarter net income attributable to common stockholders of $70 million or $0.61 per share compared to net loss of $167 million or $1.47 per share last year.

The company noted that payments received by the company through the Public Health and Social Services Emergency Fund had a positive impact on net income attributable to common stockholders of about $333 million or $2.89 per share, for the latest-quarter.

Excluding the adjusting items, net income was $0.85 per share, compared to net loss of $0.47 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.62 per share for the quarter. Analysts' estimates typically exclude special items.

Net operating revenues for the quarter were $2.519 billion, a 23.7 percent decrease, compared with $3.302 billion for the same period in 2019. Analysts expected revenue of $2.64 billion for the quarter.