FRANKLIN, Tenn. -- Community Health Systems Inc. expects to report net operating revenues of $4.9 billion for the final three months of 2014, the company reports.
The company, which operates ValleyCare Health System of Ohio in northeastern Ohio and Sharon Regional Health System in western Pennsylvania, also projects net operating revenues of $18.6 billion for the year, according to a preview of its fourth quarter and annual results released this morning.
CHS reported net operating revenues of $3.2 billion during the final quarter of 2013 and $12.8 billion for the year.
The results, based on information available to CHS management as of today, are subject to revision once the company’s quarterly accounting and financial reporting procedures and the annual audit are completed.
Excluding acquisition and integration expenses and other issues from the acquisition of Hospital Management Associates Inc. and expenses related to other government legal settlements, adjusted earnings are expected to be approximately $785 million for the three months ended Dec. 31, 2014, an increase of 71% over adjusted earnings of $459 million for the same period in 2013, also adjusted for expenses related to the HMA acquisition and government settlement and related expenses. Excluding these same adjustments, adjusted earnings for the prior quarter, which ended Sept. 30, was $751 million.
For the year, excluding the HMA expenses and expenses related to other government legal settlements, adjusted earnings are projected at $2.777 billion, up 49% over adjusted earnings of $1.860 billion for 2013, adjusted for expenses related to the HMA acquisition and government settlement and related expenses.
CHS expects to release its complete financial results for the fourth quarter and for the year overall Feb. 19.
Source: Community Health Systems Inc.
Published by The Business Journal, Youngstown, Ohio.
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