Tuesday, November 04, 2014FRANKLIN, Tenn. -- Net operating revenues for Community Health Systems Inc. during the third quarter and the first nine months of the year were up more than 50% and 42%, respectively, from the same periods in 2013, the company reported Monday. The data includes Health Management Associates Inc.’s operating results from Jan. 27, when CHS completed its acquisition of HMA.
CHS owns ValleyCare Health System of Ohio, which operates health-care facilities in Mahoning and Trumbull counties in Ohio, and earlier this year acquired Sharon Regional Health System in Pennsylvania.
Net operating revenues for the three months ended Sept. 30 totaled $4.795 billion, a 51.1% increase compared with $3.174 billion for the same period in 2013. Income from continuing operations attributable to common stockholders increased to $61 million, or $0.53 per share (diluted), for the quarter, compared with $10 million, or $0.11 per share (diluted), for the same period in 2013.
Adjusted earnings before interest, taxes, depreciation, and amortization for the three months ended Sept. 30 was $663 million compared with $382 million for the same period in 2013, representing a 73.6% increase.
Net operating revenues for the nine months ended Sept, 30 totaled $13.759 billion, a 42.9% increase compared with $9.628 billion for the same period in 2013.
Income from continuing operations attributable to CHS common stockholders decreased to $18 million, or $0.16 per share (diluted), for the nine-month period compared with $128 million, or $1.37 per share (diluted), for the same period in 2013. Adjusted EBITDA for the nine months ended Sept. 30 was $1.826 billion compared with $1.297 billion for the same period in 2013, representing a 40.8% increase.
SOURCE: Community Health Systems
Published by The Business Journal, Youngstown, Ohio.
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