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Last $54.97 USD
Change Today +0.67 / 1.23%
Volume 1.2M
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

community health systems inc (CYH) Key Developments

Jameson May Reportedly Get More Bids

Community Health Systems, Inc. (NYSE:CYH) might once again have a chance to acquire Jameson Health System, Inc. Pittsburgh Business Times reports the Pennsylvania Attorney General's Office has raised antitrust concerns about the University of Pittsburgh Medical Center's interest to acquire Jameson and has recommended Jameson solicit bids from other health care systems. The Times reports DLP Healthcare, LLC might be interested in attempting to acquire Jameson, too. Allegheny Health Network, Inc. might also make a bid.

Community Health Systems, Inc. Reports Unaudited Consolidated Earnings for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year 2015 and Financial Guidance for the Fourth Quarter of 2015

Community Health Systems, Inc. reported unaudited consolidated earnings for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net operating revenues of $4,882 million against $4,765 million a year ago. Income from operations was $447 million against $352 million a year ago. Income from continuing operations before income taxes was $214 million against $109 million a year ago. Income from continuing operations was $140 million or $1.01 per diluted share against $76 million or $0.42 per diluted share a year ago. Net income attributable to the company stockholders was $111 million or $0.95 per diluted share against $42 million $0.37 per diluted share a year ago. Adjusted EBITDA was $769 million against $700 million a year ago. Cash flow provided by operations was very strong at $565 million. Adjusted earnings per share were $1.14 compared to the $0.74, a growth over 54%. For the six months, the company reported net operating revenues of $9,793 million against $8,941 million a year ago. Income from operations was $846 million against $531 million a year ago. Income from continuing operations before income taxes was $382 million against loss of $22 million a year ago. Income from continuing operations was $252 million against $1 million a year ago. Diluted earnings per share from continuing operations was $1.80 compared with diluted loss per share of $0.38 a year ago. Net income attributable to stockholders was $189 million or $1.64 per diluted share against net loss attributable to company’s stockholders was $70 million $0.64 per diluted share a year ago. Adjusted EBITDA was $1,483 million against $1,242 million a year ago. Net cash provided by operating activities was $504 million against $514 million a year ago. Purchases of property and equipment were $474 million against $361 million a year ago. Adjusted cash flow was $588 million. Adjusted cash flows provided by operations have been adjusted for government severance and related expenses are $104 million and acquisition integration expenses in the payment of old HMA government reliability of $29 million. The company provided earnings guidance for the year 2015. For the year, the company expects adjusted EBITDA of $3,000 million to $3,165 million. Income from continuing operations per share - diluted is expected to be $3.65 to $4.10. Capital expenditures are projected to be $950 million to $1,100 million. Net cash provided by operating activities excluding acquisition and integration related cash flow items, cash flows related to the CVR, and settlement of legal contingencies is projected to be $1,650 million to $1,850 million. The company is adjusting the guidance to lower range on net operating revenues less provision for bad debts to $2.3 billion. CapEx was $474 million or 4.8% of revenue in the six months of 2015. Approximately $80 million was on the Birmingham, Alabama replacement facility. Once the Birmingham facility opens, the company will have additional interest expense of approximately $4 million and depreciation expense of $3 million in the fourth quarter.

St. Francis Hospital Ends Talks With Potential Buyer

Since early April, St. Francis Hospital, Inc. had been in “exclusive discussions” with a subsidiary of Community Health Systems, Inc. (NYSE:CYH). The chairman of the Board of Trustees of St. Francis Hospital, Inc. confirmed that for the second time exclusive discussions with a potential buyer have broken off. “All prior conversations regarding potential partnerships with the hospital have ended,” Board of Trustees Chairman Richard “Bo” Bradley stated in an email response to questions from the Ledger-Enquirer.

Community Health Systems, Inc. to Report Q2, 2015 Results on Aug 03, 2015

Community Health Systems, Inc. announced that they will report Q2, 2015 results After-Market on Aug 03, 2015

Community Health Systems, Inc., Q2 2015 Earnings Call, Aug 04, 2015

Community Health Systems, Inc., Q2 2015 Earnings Call, Aug 04, 2015

 

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Industry Analysis

CYH

Industry Average

Valuation CYH Industry Range
Price/Earnings 15.9x
Price/Sales 0.3x
Price/Book 1.5x
Price/Cash Flow 4.3x
TEV/Sales NM Not Meaningful
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