Health Care

Community Health Systems Previews Q3 Results

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FRANKLIN, Tenn. – Community Health Systems Inc. issued its preliminary results for the third quarter Wednesday.

The company, which operates ValleyCare Health System of Ohio in northeastern Ohio and Sharon Regional Health System in Sharon, Pa., anticipates net operating revenues for the three months ended Sept. 30 will be about $4.846 billion, compared with $$4.780 billion for the same period in 2014.

Income from continuing operations before taxes as reported for the quarter is expected to be approximately $121 million, compared with $133 million for the same period last year. The company projects adjusted earnings for the quarter at approximately $661 million, compared with $750 million for the same period in 2014.

Income from continuing operations for the three months ended Sept. 30, excluding expenses from the planned spin-off of Quorum Health Corp., is expected to be $0.56 per share (diluted), compared with $1.01 per share (diluted) for the three months ended Sept. 30, 2014.

The results are based on information available to CHS management as of yesterday and are subject to revision upon finalization of quarterly accounting and financial reporting procedures. The company expects to report its complete financial results for the three and nine months ended Sept. 30 on Nov. 2.

Published by The Business Journal, Youngstown, Ohio.