Community Health Systems, Inc. · NYSE:CYH
Community Health Systems — Q2 2026 Earnings Presentation
16 slides from Community Health Systems's earnings presentation, Jul 23, 2026
Slide 1: Earnings Presentation 2nd Quarter, 2026
Earnings Presentation 2nd Quarter, 2026 July 22, 2026
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 Litigation Reform Act of 1995 that involve risks and unce
Slide 3: Community Health Systems
Community Health Systems Kevin J. Hammons Chief Executive Officer Jason K. Johnson Executive VP and Chief Financial Officer Earning Presentation – 2nd Quarter, 2026 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, 2026 2025 Change 2026 2025 Change Net Operating Revenues $ 2,825 $ 3,133 -9.8% $ 5,790 $ 6,292 -8.0% Adjusted EBITDA(1) $ 330 $ 380 -13.2% $ 638 $ 756 -15.6% Adjusted EBITD
Slide 5: Diluted EPS – Excluding Adjustments
Diluted EPS – Excluding Adjustments Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net income, as reported $ 0.51 $ 2.09 $ 0.09 $ 2.01 Adjustments: Loss (gain) from early extinguishment of debt 0.03 (1.03) 0.08 (1.03) Impairment and (gain) loss on sale of businesses, net (
Slide 6: 2Q 2026 Summary
2Q 2026 Summary 2Q 2026 YTD 2026 compared to compared to 2Q 2025 YTD 2025 Consolidated Same Store Consolidated Same Store Net Operating Revenue -9.8% 2.4% -8.0% 2.5% Net Revenue per AA -0.5% 1.5% Admissions -11.4% 1.9% -11.1% 0.0% Adjusted Admissions -11.7% 2.9% -11.1% 1.0% Surgeries -15.7% -0.1% -1
Slide 7: Payor Mix (Consolidated)
Payor Mix (Consolidated) Key 1.4% 0.6% Managed Care & Other 15.8% 17.3% Medicaid 2Q 45.7% 2Q 47.3% Medicare Managed Care 18.7% 2026 17.4% 2025 Medicare Self-Pay 18.4% 17.4% • Payor mix as % of net revenue. 1.2% 0.6% • Total consolidated 16.6% 18.0% uncompensated care as % of adjusted net revenue (ne
Slide 8: Cash Flow & Capital Expenditures
Cash Flow & Capital Expenditures Cash Flows from Operations Capital Expenditures ($ in millions) ($ in millions) $750 $712 * $ 500 $467 $600 $ 400 $360 $497 * $335 $450 $ 300 $282 * $ 200 $176 $300 $257 * $152 $150 $ 100 $0 $0 -$150 ($153) * -$300 YTD YTD 2023 2024 2025 2Q25 2Q26 * Adjusted Cash Flo
Slide 9: Balance Sheet Data
Balance Sheet Data ($ in millions) June 30, 2026 December 31, 2025 Working Capital $ 1,065 $ 1,026 Total Assets $ 12,177 $ 13,204 Total Debt $ 9,578 $ 10,396 Stockholders’ Deficit $ (1,390) $ (1,394) • At June 30, 2026, all of our debt was fixed rate debt. • Days revenue outstanding for same-store h
Slide 10: Debt Maturity Profile
Debt Maturity Profile June 30, 2026 ($ in millions) $ 2,800 $1,227 $ 2,100 $ 1,400 $1,244 $1,790 $ 700 $1,535 $1,549 $644 $689 $700 $42 $0 2028 2029 2030 2031 2032 2033 2034 First Lien Notes Second Lien Notes Unsecured Notes Debt maturity profile does not include amounts outstanding, if any, under t
Slide 11: 2026 Guidance Provided July 22, 2026
2026 Guidance Provided July 22, 2026 2026 Projection Range • Net operating revenues (in millions) $11,400 to $11,600 • Adjusted EBITDA (in millions) $1,300 to $1,375 • Depreciation and amortization as a percentage of net operating revenues 3.8% to 3.9% • Net loss per share – diluted $(1.25) to $(1.1
Slide 12: Medium-Term Financial Goals
Medium-Term Financial Goals Medium-Term Within 1-3 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 12
Slide 13: Top Five Priorities
Top Five Priorities
Slide 14: APPENDIX: Other Financial Information
APPENDIX: Other Financial Information
Slide 15: Unaudited Supplemental Information
Unaudited Supplemental Information EBITDA is a non-GAAP financial measure which consists of net income 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 to add back n
Slide 16: Unaudited Supplemental Information
Unaudited Supplemental Information The following table reflects the reconciliation of Adjusted EBITDA, as defined, to net income attributable to Community Health Systems, Inc. stockholders from our condensed consolidated financial statements (in millions): Three Months Ended Six Months Ended June 30
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