Community Health Systems, Inc. · NYSE:CYH
Community Health Systems — Q3 2024 Earnings Presentation
15 slides from Community Health Systems's earnings presentation, Oct 24, 2024
Slide 1: Earnings Presentation – 3rd Quarter, 2024
Earnings Presentation – 3rd Quarter, 2024 October 23, 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 Litigation Reform Act of 1995 that involve risk and uncer
Slide 3: Community Health Systems
Community Health Systems Earnings Presentation – 3rd Quarter, 2024 3
Slide 4: Income Summary
Income Summary (Amounts in millions, except margin and per share amounts) By The Numbers Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 Change 2024 2023 Change Net Operating Revenues $ 3,090 $ 3,086 0.1% $ 9,369 $ 9,308 0.7% Adjusted EBITDA(1) $ 347 $ 360 -3.6% $ 1,112 $
Slide 5: Diluted EPS – Excluding Adjustments
Diluted EPS – Excluding Adjustments Three Months Ended Nine Months Ended September 30, September 30, By The Numbers 2024 2023 2024 2023 Net loss, as reported $ (2.95) $ (0.69) $ (3.38) $ (1.38) Adjustments: Gain from early extinguishment of debt - - (0.20) - Impairment and (gain) loss on sale of bus
Slide 6: 3Q 2024 Summary
3Q 2024 Summary 3Q 2024 YTD 2024 compared to compared to 3Q 2023 YTD 2023 Consolidated Same Store Consolidated Same Store Net Operating Revenue 0.1% 5.1% 0.7% 5.2% Net Revenue per AA 2.5% 2.6% Admissions -4.1% 2.4% -3.1% 3.0% Adjusted Admissions -3.7% 2.6% -3.4% 2.5% Surgeries -1.7% 3.1% -3.5% 1.3%
Slide 7: Payor Mix (Consolidated)
Payor Mix (Consolidated) Key 14.2% 14.8% Managed Care & Other 17.5% 16.1% Medicaid 3Q 3Q Medicare Managed Care 49.0% 2024 18.2% 47.9% 2023 19.7% Medicare Self-Pay 1.1% 1.5% • Payor mix as % of net revenue. • Total consolidated 14.4% 14.3% uncompensated care as % of 17.9% 16.8% 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 $357 $600 $ 300 $251 $400 $ 200 $300 $264 $210 $200 $120 $ 100 $- $0 2021 2022 20
Slide 9: Balance Sheet Data
Balance Sheet Data By The Numbers ($ in millions) September 30, 2024 December 31, 2023 Working Capital $ 982 $ 1,066 Total Assets $ 13,905 $ 14,455 Total Debt $ 11,487 $ 11,487 Stockholders’ Deficit $ (1,823) $ (1,392) • At September 30, 2024, substantially all of our debt was fixed rate debt. • Day
Slide 10: Debt Maturity Profile
Debt Maturity Profile September 30, 2024 ($ in millions) By The$ 3,000 Numbers $1,227 $ 2,000 $2,457 $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 o
Slide 11: 2024 Guidance Provided October 23, 2024
2024 Guidance Provided October 23, 2024 2024 By The Numbers Projection Range • Net operating revenues (in millions) $12,450 to $12,550 • Adjusted EBITDA (in millions) $1,500 to $1,540 • Depreciation and amortization as a percentage of net operating revenues 3.7% to 3.8% • Net loss per share – dilute
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 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 to add back net
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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