Community Health Systems Posts 63-Cent Quarterly Loss Per Share
CYH is trading near its 52-week low of $2.405 (11% above the low).
Summary
Community Health Systems reported a third-quarter loss of $86 million, or 63 cents per share, on $2.76 billion of revenue. That follows a rough second quarter, when net income fell 75% to $70 million on $2.825 billion of revenue and missed estimates, with operating cash flow deeply negative and cash down to $149 million. For a company with a small equity value and a leveraged hospital portfolio, another quarterly loss keeps pressure on liquidity and on the hospital divestiture program that has been funding the balance sheet.
At the time of this announcement, CYH was trading at $2.66 on NYSE in the Life Sciences sector, with a market capitalization of approximately $375.1M. The 52-week trading range was $2.41 to $4.42. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.