Community Health Systems Inc. (NYSE:$CYH) announced third quarter 2017 results- with whopping net operating revenues of $3.666 billion.
Specifically, that figure is a 16.3% decrease, compared with $4.380 billion for the same period in 2016. Loss from continuing operations attributable to Community Health Systems, Inc. common stockholders was $108 million or $0.96 per share, for the three months ended September 30th, 2017, compared with $77 million, or $0.69 per share, for the same period in 2016.
During the three months ended September 30, 2017, the Company recorded a non-cash expense totaling $33 million related to impairment charges to reduce the value of long-lived assets at hospitals that the Company has identified for sale. The impairment charges do not have an impact on the calculations of the Company’s financial covenants under the Company’s Credit Facility.
Further, Community Health reported consolidated results of a 14.8$ decrease in total admissions, and a 15.5% decrease in total adjusted admissions.
Community Health has been prioritizing its ongoing portfolio rationalization efforts, having sold 11 hospitals in May, 9 in June, and 2 in September.
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