Community Health Systems, Inc. · NYSE:CYH

Community Health Systems — Q1 2023 Earnings Presentation

16 slides from Community Health Systems's earnings presentation, May 2, 2023

  1. Slide 1: Earnings Presentation – 1st Quarter, 2023

    Earnings Presentation – 1st Quarter, 2023 May 1, 2023

  2. 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

  3. Slide 3: Community Health Systems

    Community Health Systems By The Numbers Earnings Presentation – 1st Quarter, 2023 3

  4. Slide 4: Near-Term Priorities

    Near-Term Priorities By The Numbers Near-term priorities designed to positively position CHS for long-term success 4

  5. Slide 5: Income Summary

    Income Summary (Amounts in millions, except margin and Net (Loss) Income per Share) Three Months Ended March 31, By The Numbers 2023 2022 Change Net Operating Revenues $ 3,108 $ 3,111 -0.1% Adjusted EBITDA(1) $ 335 $ 409 -18.1% Adjusted EBITDA Margin (1) 10.8% 13.1% (230) BPS Net (Loss) Income per S

  6. Slide 6: Diluted EPS – Excluding Adjustments

    Diluted EPS – Excluding Adjustments By The Numbers Three Months Ended March 31, 2023 2022 Net loss, as reported $ (0.40) $ (0.01) Adjustments: Loss from early extinguishment of debt - 0.11 Impairment and (gain) loss on sale of businesses, net (0.11) 0.04 Expense from government and other legal matte

  7. Slide 7: 1Q 2023 Summary

    1Q 2023 Summary By The Numbers Sequential 1Q 2023 1Q 2023 compared to compared to 4Q 2022 1Q 2022 Same Store Consolidated Same Store Net Operating Revenue -0.4% -0.1% 1.7% Net Revenue per AA -0.6% -7.1% Admissions 0.4% 1.2% 4.8% Adjusted Admissions 0.3% 5.8% 9.4% Surgeries 1.9% 5.5% 10.6% ER Visits

  8. Slide 8: Non-Labor Expense

    Non-Labor Expense ($ in millions) 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 By The Numbers Supplies $491 $500 $529 $521 $499 $487 $492 $498 $507 Other Non-Labor $749 $740 $730 $743 $740 $757 $799 $805 $818 Total Non-Labor $1,240 $1,240 $1,259 $1,264 $1,239 $1,244 $1,291 $1,303 $1,325 Over 9 quart

  9. Slide 9: Payor Mix (Consolidated)

    Payor Mix (Consolidated) Key Managed Care & Other Medicaid Medicare Managed Care 13.6% 15.0% Medicare 17.5% 16.5% Self-Pay 1Q 1Q 47.2% • Payor mix as % of net revenue. 2023 20.9% 45.6% 2022 21.5% • Total consolidated uncompensated care as % of 0.8% adjusted net revenue (net 1.4% revenue before provi

  10. 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 $469 $950 $440 $415 $900 $ 400 $ 300 $600 $ 200 $300 $122 $300 $97 $ 100 $101 $5 $- $0 2020

  11. Slide 11: Balance Sheet Data

    Balance Sheet Data By The Numbers ($ in millions) March 31, 2023 December 31, 2022 Working Capital $ 982 $ 896 Total Assets $ 14,623 $ 14,669 Total Debt $ 11,735 $ 11,635 Stockholders’ Deficit $ (1,445) $ (1,367) • At March 31, 2023, substantially all of our debt was fixed rate debt. • Days revenue

  12. Slide 12: Debt Maturity Profile

    Debt Maturity Profile March 31, 2023 ($ in millions) By The$ 3,000 Numbers $1,232 $ 2,000 $1,386 $2,600 $ 1,000 $2,101 $1,535 $1,058 $756 $900 $0 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 billion AB

  13. Slide 13: 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

  14. Slide 14: APPENDIX: Other Financial Information

    APPENDIX: Other Financial Information

  15. Slide 15: Unaudited Supplemental Information

    Unaudited Supplemental Information By The Numbers EBITDA is a non-GAAP financial measure which consists of net income (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

  16. Slide 16: Unaudited Supplemental Information

    Unaudited Supplemental Information The following table reflects the reconciliation of Adjusted EBITDA, as defined, to net loss attributable to Community By The Numbers Health Systems, Inc. stockholders as derived directly from the condensed consolidated financial statements (in millions): Three Mont

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