Thu, Jul 25, 8:33 PM (44 days ago)
Community Health Systems, Inc. reported a net operating revenue increase to $3.14 billion for Q2 2024, up from $3.115 billion in Q2 2023. Same-store net operating revenues rose by 4.7%, driven by higher inpatient and outpatient volumes, increased reimbursement rates, and higher revenues from supplemental programs. However, consolidated inpatient admissions and adjusted admissions decreased by 2.8% and 2.4%, respectively. Net income was $26 million, up from $2 million in Q2 2023, benefiting from a $27 million after-tax gain from early debt extinguishment, offset by $18 million in impairment and modernization costs. Operating expenses rose slightly to 92.4% of net revenues. Interest expense increased to $216 million due to recent financing activities. For the six months ended June 30, 2024, net income was $20 million, compared to a $18 million loss in the same period in 2023. The company continues to face uncertainties related to legislative and regulatory changes, impacting future financial performance.