COMMUNITY HEALTH SYSTEMS Reports Second Quarter FY2023 Earnings Results
August 23, 2023
🌥️Earnings Overview
COMMUNITY HEALTH SYSTEMS ($NYSE:CYH) reported on June 30, 2023, that their total revenue for the second quarter of FY2023 amounted to USD 3115.0 million, a 6.2% increase from Q2 of FY2022. Net income for this quarter was USD -38.0 million, a dramatic improvement from the previous year’s figure of -326.0 million.
Price History
The company’s stock opened the day at $4.3 and ultimately closed the day at $4.1, a decrease of 5.9% from the previous day’s closing price of $4.4. The results were below expectations, causing investors to become more cautious and leading to the drop in share price. The company released a statement in response to their earnings results. They acknowledged that their performance was below expectations, but they remain optimistic for the future.
They attributed the underperformance to the increasing cost of healthcare, which had a negative impact on their financials. COMMUNITY HEALTH SYSTEMS said they are committed to continuing to explore solutions and strategies to improve their financial performance and better serve their patients. In light of these results, investors should remain aware of the company’s performance and assess their portfolios accordingly. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CYH. More…
| Total Revenues | Net Income | Net Margin |
| 12.39k | 284 | 0.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CYH. More…
| Operations | Investing | Financing |
| 237 | -127 | -338 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CYH. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 14.65k | 15.47k | -10.89 |
Key Ratios Snapshot
Some of the financial key ratios for CYH are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.9% | -1.6% | 10.3% |
| FCF Margin | ROE | ROA |
| -1.9% | -54.5% | 5.5% |
Analysis
GoodWhale has conducted an analysis of COMMUNITY HEALTH SYSTEMS’s wellbeing, and based on our Risk Rating, it is deemed a medium risk investment in terms of financial and business aspects. We have detected two risk warnings in the income sheet and balance sheet, but to gain access to the full report, you must become a registered user. Our report includes detailed insights, which will provide you with more comprehensive information to make an informed decision when investing in COMMUNITY HEALTH SYSTEMS. More…
Peers
The healthcare industry is incredibly competitive, with hospitals and other providers vying for patients and market share. Community Health Systems Inc (CHS) is one of the largest hospital chains in the United States, and it competes against Encompass Health Corp, Ramsay Health Care Ltd, and Pennant Group Inc, among others. CHS has been successful in recent years, but its competitors are always looking for ways to gain ground.
– Encompass Health Corp ($NYSE:EHC)
Encompass Health Corporation is a healthcare services company that provides rehabilitation and home health services in the United States. The company has a market cap of $5.1 billion and a return on equity of 22.78%. Encompass Health Corporation operates in two segments: Inpatient Rehabilitation and Home Health. The Inpatient Rehabilitation segment offers rehabilitation services to patients in acute care hospitals, skilled nursing facilities, and other care settings. The Home Health segment provides home health services to patients in their homes.
– Ramsay Health Care Ltd ($ASX:RHC)
Ramsay Health Care Ltd is a global healthcare company that operates hospitals and clinics across Australia, France, Indonesia, Malaysia, the United Kingdom, and the United States. The company has a market cap of 13.22B as of 2022 and a return on equity of 10.85%. Ramsay Health Care Ltd is a leading provider of healthcare services and offers a comprehensive range of services including acute care, primary care, cancer care, mental health care, and aged care. The company has a strong focus on quality and safety and is committed to providing the highest standards of care for its patients.
– Pennant Group Inc ($NASDAQ:PNTG)
The Pennant Group is a provider of healthcare services with a market cap of $345.45 million. The company has a return on equity of -0.72%. The company provides services to senior living communities, hospitals, and other healthcare organizations.
Summary
Investing in Community Health Systems (CHS) may be a risky opportunity for investors. The company recently announced their second quarter earnings results for FY2023, which showed a 6.2% increase in total revenue from the same quarter the previous year at USD 3115 million, with a net income of -38 million compared to -326 million the year before. Despite the improvement from last year, the stock price still dropped on the day of the report.
This might be concerning for potential investors, as it could suggest that the company’s future is uncertain. Therefore, it is important to carefully evaluate the company’s performance and outlook before deciding to invest in CHS.
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