Community Health Q2 revenue falls more than expected, hurt by sale of hospitals
CYH•Outlook not provided
- Company did not provide specific guidance or forecasts for the current or future periods in press release.
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Miss | $2.83 bln | $2.88 bln (7 Analysts) |
| Q2 Adjusted EBITDA | Slight Miss* | $330 mln | $331.12 mln (8 Analysts) |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and 3 "sell" or "strong sell". The average consensus recommendation for the healthcare facilities & services peer group is "buy."
Wall Street's median 12-month price target for Community Health Systems Inc is $3.50, about 9% above its July 21 closing price of $3.21.
Q2 revenue and EBITDA miss estimates
- U.S. hospital operator's Q2 revenue fell 9.8% year over year, missing analyst expectations.
- Adjusted EBITDA for Q2 was a slight miss versus consensus.
- Company used divestiture proceeds to repurchase $599 million in senior secured notes.
