Community Healthcare Trust Incorporated · NYSE:CHCT
Community Healthcare Trust — Q4 2022 Earnings Presentation
17 slides from Community Healthcare Trust's earnings presentation, Feb 15, 2023
Slide 1: Earnings Presentation – 4th Quarter, 2022
Earnings Presentation – 4th Quarter, 2022 February 15, 2023
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 By The Numbers Earnings Presentation – 4th Quarter, 2022 3
Slide 4: Near-Term Priorities
Near-Term Priorities By The Numbers Near-term priorities designed to positively position CHS for long-term success 4
Slide 5: Income Summary
Income Summary (Amounts in millions, except margin and Net Income (Loss) per Share) Three Months Ended December 31, Year Ended December 31, By The Numbers 2022 2021 Change 2022 2021 Change Net Operating Revenues $ 3,142 $ 3,233 -2.8% $ 12,211 $ 12,368 -1.3% Adjusted EBITDA(1) $ 404 $ 540 - 25.2% $ 1
Slide 6: Diluted EPS – Excluding Adjustments
Diluted EPS – Excluding Adjustments Three Months Ended Year Ended By The Numbers December 31, December 31, 2022 2021 2022 2021 Net income, as reported $ 3.18 $ 1.34 $ 0.35 $ 1.76 Adjustments: (Gain) loss from early extinguishment of debt (1.18) - (1.60) 0.89 Impairment and (gain) loss on sale of bus
Slide 7: 4Q 2022 Summary
4Q 2022 Summary By The Numbers Sequential 4Q 2022 4Q 2022 YE 2022 compared to compared to compared to 3Q 2022 4Q 2021 YE 2021 Same Store Consolidated Same Store Consolidated Same Store Net Operating Revenue 4.8% -2.8% -1.3% -1.3% -0.2% Net Revenue per AA 4.4% -8.7% -5.0% Admissions 2.3% 1.9% 4.4% -1
Slide 8: Non-Labor Expense
Non-Labor Expense ($ in millions) 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 By The Numbers Supplies $491 $500 $529 $521 $499 $487 $492 $498 Other Non-Labor $749 $740 $730 $743 $740 $757 $799 $805 Total Non-Labor $1,240 $1,240 $1,259 $1,264 $1,239 $1,244 $1,291 $1,303 Over 8 quarters, CHS mitigated the
Slide 9: Payor Mix (Consolidated)
Payor Mix (Consolidated) Key 14.2% 13.9% Managed Care & Other 15.8% 14.7% Medicaid 4Q 4Q Medicare Managed Care 49.6% 2022 19.7% 50.0% 2021 20.5% Medicare Self-Pay 0.7% 0.9% • Payor mix as % of net revenue. • Total consolidated 14.8% 13.5% uncompensated care as % of 16.1% 15.1% adjusted net revenue (
Slide 10: Cash Flow & Capital Expenditures
Cash Flow & Capital Expenditures Cash Flows from Operations Capital Expenditures Excluding Received and Repaid Medicare Accelerated Payments By The Numbers ($ in millions) ($ in millions) $1,200 $1,097 $ 500 $950 $469 $900 $440 $438 $415 $600 $ 400 $385 $300 $300 $- $ 300 2019 2020 2021 2022 Reporte
Slide 11: Balance Sheet Data
Balance Sheet Data By The Numbers ($ in millions) December 31, 2022 December 31, 2021 Working Capital $ 896 $ 1,115 Total Assets $ 14,668 $ 15,217 Total Debt $ 11,635 $ 12,140 Stockholders’ Deficit $ (1,367) $ (1,372) • At December 31, 2022, substantially all of our debt was fixed rate debt. • Days
Slide 12: Debt Maturity Profile
Debt Maturity Profile December 31, 2022 ($ in millions) By The Numbers $ 3,000 $1,232 $ 2,000 $1,386 $2,600 $ 1,000 $2,101 $1,535 $1,058 $756 $900 $0 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 First Lien Notes Second Lien Notes Unsecured Notes Note: Debt maturity profile does not include $1 b
Slide 13: 2023 Guidance Issued February 15, 2023
2023 Guidance Issued February 15, 2023 2023 By The Numbers Projection Range • Net operating revenues (in millions) $12,200 to $12,600 • Adjusted EBITDA (in millions) $1,475 to $1,625 • Depreciation and amortization as a percentage of net operating revenues 4.2% • Net loss per share – diluted $(0.65)
Slide 14: 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 15: APPENDIX: Other Financial Information
APPENDIX: Other Financial Information
Slide 16: Unaudited Supplemental Information
Unaudited Supplemental Information By The Numbers 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 adjuste
Slide 17: Unaudited Supplemental Information
Unaudited Supplemental Information The following table reflects the reconciliation of Adjusted EBITDA, as defined, to net income attributable to Community By The Numbers Health Systems, Inc. stockholders as derived directly from the condensed consolidated financial statements (in millions): Three Mo
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