Community Health Systems, Inc. Provides Earnings Guidance for the Three Months and Year Ended December 31, 2014
January 20, 2015 at 07:15 am EST
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Community Health Systems, Inc. provided earnings guidance for the three months and year ended December 31, 2014. The company anticipates net operating revenues for the three months ended December 31, 2014, will be approximately $4.9 billion, compared with $3.2 billion for the same period in 2013. Excluding acquisition and integration expenses from the acquisition of Hospital Management Associates, Inc., legal expenses related to the HMA legal proceedings underlying the CVR agreement, and expenses related to other government legal settlements, adjusted EBITDA is expected to be approximately $785 million for the three months ended December 31, 2014, an increase of 71% over adjusted EBITDA of $459 million for the three months ended December 31, 2013, adjusted for expenses related to the HMA acquisition and government settlement and related expenses. Excluding these same adjustments, adjusted EBITDA for the three months ended September 30, 2014 was $751 million. The company anticipates income from continuing operations per share (diluted) to be $1.23 against $0.55 a year ago.
The company anticipates net operating revenues for the year ended December 31, 2014, will be approximately $18.6 billion, compared with $12.8 billion for the same period in 2013. Excluding acquisition and integration expenses from the acquisition of HMA, legal expenses related to the HMA legal proceedings underlying the CVR agreement, and expenses related to other government legal settlements, adjusted EBITDA is expected to be approximately $2.777 billion for the year ended December 31, 2014, an increase of 49% over adjusted EBITDA of $1.860 billion for the year ended December 31, 2013, adjusted for expenses related to the HMA acquisition and government settlement and related expenses. The company anticipates income from continuing operations per share (diluted) to be $3.29 against $2.62 a year ago. Net cash provided by operating activities, excluding HMA acquisition and integration related cash flow items, cash flows related to the CVR agreement and settlement of legal contingencies and other related expenses, is expected to be at least $1.725 billion for the year ended December 31, 2014. Net cash provided by operating activities was $1.1 billion for the same period in 2013.
Community Health Systems, Inc. is a healthcare company. The Company, through its subsidiaries, owns or leases over 71 affiliated hospitals, with approximately 12,000 beds, and operate more than 1,000 sites of care, including physician practices, urgent care centers, freestanding emergency departments, occupational medicine clinics, imaging centers, cancer centers and ambulatory surgery centers. The Company, through its affiliates, providers of healthcare services, develops and operating healthcare delivery systems in over 40 distinct markets across 15 states. Its hospitals are general care hospitals offering a range of inpatient and outpatient medical services. These services generally include general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric and rehabilitation services. In addition, some of its hospitals provide skilled nursing and home care services based on individual community needs.
COMMUNITY HEALTH SYSTEMS, INC. 
