Community Health Systems, Inc. · NYSE:CYH
Community Health Systems — Q2 2024 Earnings Presentation
15 slides from Community Health Systems's earnings presentation, Jul 25, 2024
Slide 1: Earnings Presentation – 2nd Quarter, 2024
Earnings Presentation – 2nd Quarter, 2024 July 24, 2024
Slide 2: Disclaimer Statement
Disclaimer Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities By The Numbers Litigation Reform Act of 1995 that involve
Slide 3: Community Health Systems
Community Health Systems Earnings Presentation – 2nd Quarter, 2024 3
Slide 4: Income Summary
Income Summary (Amounts in millions, except margin and per share amounts) Three Months Ended June 30, Six Months Ended June 30, By The Numbers 2024 2023 Change 2024 2023 Change Net Operating Revenues $ 3,140 $ 3,115 0.8% $ 6,279 $ 6,223 0.9% Adjusted EBITDA(1) $ 387 $ 373 3.8% $ 765 $ 707 8.2% Adjus
Slide 5: Diluted EPS – Excluding Adjustments
Diluted EPS – Excluding Adjustments Three Months Ended Six Months Ended By The Numbers June 30, June 30, 2024 2023 2024 2023 Net loss, as reported $ (0.10) $ (0.29) $ (0.42) $ (0.68) Adjustments: Gain from early extinguishment of debt (0.20) - (0.20) - Impairment and (gain) loss on sale of businesse
Slide 6: 2Q 2024 Summary
2Q 2024 Summary 2Q 2024 YTD 2024 compared to compared to 2Q 2023 YTD 2023 Consolidated Same Store Consolidated Same Store Net Operating Revenue 0.8% 4.7% 0.9% 5.2% Net Revenue per AA 1.4% 2.6% Admissions -2.8% 3.0% -2.6% 3.4% Adjusted Admissions -2.4% 3.2% -3.2% 2.5% Surgeries -3.7% 0.6% -4.4% 0.5%
Slide 7: Payor Mix (Consolidated)
Payor Mix (Consolidated) Key 14.8% 14.4% Managed Care & Other 17.8% 16.7% Medicaid 2Q 2Q Medicare Managed Care 47.9% 2024 17.9% 47.9% 2023 20.2% Medicare Self-Pay 1.6% 0.8% • Payor mix as % of net revenue. • Total consolidated 14.4% 14.0% uncompensated care as % of 18.1% 17.1% adjusted net revenue (
Slide 8: Cash Flow & Capital Expenditures
Cash Flow & Capital Expenditures Cash Flows from Operations Capital Expenditures Excluding Repaid Medicare Accelerated Payments By The Numbers ($ in millions) ($ in millions) $1,000 $950 $ 500 $469 $467 $415 $800 $ 400 $600 $ 300 $227 $181 $400 $300 $ 200 $210 $197 $200 $ 100 $91 $- $0 2021 2022 202
Slide 9: Balance Sheet Data
Balance Sheet Data By The Numbers ($ in millions) June 30, 2024 December 31, 2023 Working Capital $ 1,027 $ 1,066 Total Assets $ 14,411 $ 14,455 Total Debt $ 11,531 $ 11,487 Stockholders’ Deficit $ (1,441) $ (1,392) • At June 30, 2024, substantially all of our debt was fixed rate debt. • Days revenu
Slide 10: Debt Maturity Profile
Debt Maturity Profile June 30, 2024 ($ in millions) By The$ 3,000 Numbers $1,227 $ 2,000 $2,600 $1,244 $2,225 $ 1,000 $1,535 $1,058 $626 $644 $0 2024 2025 2026 2027 2028 2029 2030 2031 2032 First Lien Notes Second Lien Notes Unsecured Notes Note: Debt maturity profile does not include amounts outsta
Slide 11: 2024 Guidance Issued July 24, 2024
2024 Guidance Issued July 24, 2024 2024 By The Numbers Projection Range • Net operating revenues (in millions) $12,500 to $12,700 • Adjusted EBITDA (in millions) $1,520 to $1,600 • Depreciation and amortization as a percentage of net operating revenues 4.0% • Net loss per share – diluted $(0.45) to
Slide 12: Medium-Term Financial Goals
Medium-Term Financial Goals Medium-Term By The Numbers Within 3-5 Years Net Revenue Growth Mid-Single Digit Adjusted EBITDA Margin Mid-Teens Annual Free Cash Flow Positive Financial Leverage (Net Debt / EBITDA) Below 5.5x Financial and operational goals focused on improving EBITDA margin and free ca
Slide 13: APPENDIX: Other Financial Information
APPENDIX: Other Financial Information
Slide 14: Unaudited Supplemental Information
Unaudited Supplemental Information By The Numbers EBITDA is a non-GAAP financial measure which consists of net loss attributable to Community Health Systems, Inc. before interest, income taxes, and depreciation and amortization. Adjusted EBITDA, also a non-GAAP financial measure, is EBITDA adjusted
Slide 15: Unaudited Supplemental Information
Unaudited Supplemental Information The following table reflects the reconciliation of Adjusted EBITDA, as defined, to net loss attributable to Community Health Systems, Inc. By The Numbers stockholders as derived directly from the condensed consolidated financial statements (in millions): Three Mont
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