Community Health Systems Reports Q1 Results
FRANKLIN, Tenn. – Community Health Systems Inc. reports net operating revenues of $4.91 billion for the first quarter of 2015, an increase of 17.6% over the $4.18 billion reported for the first three months of 2014.
The company, which operates ValleyCare Health System of Ohio in northeastern Ohio and Sharon Regional Health System in western Pennsylvania, released the results following the close of markets Tuesday. Shares closed at $51.52 Tuesday, down 3.63%.
Adjusted earnings for the quarter totaled $715 million compared with $543 million for the same period in 2014, up 31.7%. Total admissions for the period reflect a 15.7% increase from the same period in 2014, and a 17.0% increase in total adjusted admissions.
On a same-store basis, admissions increased 0.4% while adjusted admissions increased 2.5% during the three months ended March 31, compared with the same period in 2014. On a same-store basis, net operating revenues increased 5.2% during the three months ended March 31, compared with the same period in 2014.
“We are pleased with our financial and operating performance for the first quarter of 2015. We are especially encouraged by improved volume in the quarter, demonstrating the results of our strategic growth initiatives and the incremental benefits of the Affordable Care Act,” said Wayne T. Smith, chairman and CEO. “We remain optimistic that these positive trends will continue as a result of growth in exchange enrollment.”
The first-quarter 2015 results also reflect “operating synergies” from its acquisition of Health Management Associates Inc., the CEO said, and he anticipates further opportunities for efficiencies through the integration.
SOURCE: Community Health Systems Inc.
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