Community Health Systems, Inc. · NYSE:CYH
Community Health Systems — Q1 2024 Earnings Presentation
15 slides from Community Health Systems's earnings presentation, Apr 25, 2024
Slide 1: Earnings Presentation – 1st Quarter, 2024
Earnings Presentation – 1st Quarter, 2024 April 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 – 1st Quarter, 2024 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 per share amounts) By The Numbers Three Months Ended March 31, 2024 2023 Change Net Operating Revenues $ 3,140 $ 3,108 1.0% Adjusted EBITDA(1) $ 378 $ 335 12.8% Adjusted EBITDA Margin (1) 12.0% 10.8% 120 BPS Net Loss per Share, $ (0.14) $ (0.43)
Slide 6: Diluted EPS – Excluding Adjustments
Diluted EPS – Excluding Adjustments By The Numbers Three Months Ended March 31, 2024 2023 Net loss, as reported $ (0.32) $ (0.40) Adjustments: Impairment and (gain) loss on sale of businesses, net 0.10 (0.11) Expense from government and other legal matters - 0.06 and related costs Expense from busin
Slide 7: 1Q 2024 Summary
1Q 2024 Summary 1Q 2024 compared to 1Q 2023 Consolidated Same Store Net Operating Revenue 1.0% 5.7% Net Revenue per AA 3.7% Admissions -2.3% 3.8% Adjusted Admissions -4.0% 1.9% Surgeries -5.1% 0.4% ER Visits -4.1% 3.4% 7
Slide 8: Payor Mix (Consolidated)
Payor Mix (Consolidated) Key Managed Care & Other Medicaid Medicare Managed Care 14.1% 13.6% Medicare 18.4% 17.5% Self-Pay 1Q 1Q • Payor mix as % of net revenue. 47.1% 2024 19.0% 2023 20.9% 47.2% • Total consolidated uncompensated care as % of 1.4% 0.8% adjusted net revenue (net revenue before provi
Slide 9: 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 $400 $ 200 $300 $122 $210 $93 $200 $ 100 $96 $5 $0 $- 2021 2022 2023 1
Slide 10: Balance Sheet Data
Balance Sheet Data By The Numbers ($ in millions) March 31, 2024 December 31, 2023 Working Capital $ 1,039 $ 1,066 Total Assets $ 14,417 $ 14,455 Total Debt $ 11,567 $ 11,487 Stockholders’ Deficit $ (1,428) $ (1,392) • At March 31, 2024, substantially all of our debt was fixed rate debt. • Days reve
Slide 11: Debt Maturity Profile
Debt Maturity Profile March 31, 2024 ($ in millions) By The$ 3,000 Numbers $1,227 $ 2,000 $2,600 $1,244 $ 1,000 $1,535 $1,116 $1,058 $1,000 $756 $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 amount
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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