CYH 8-K

Community Health Systems Inc (CYH)

8-K 2026-07-22 For: 2026-07-22

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Added on July 22, 2026

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Delaware	001-15925	13-3893191
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

4000 Meridian Boulevard
Franklin, Tennessee		37067
(Address of Principal Executive Offices)		(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $.01 par value	CYH	New York Stock Exchange


Exhibit Number		Description

99.1		Community Health Systems, Inc. Press Release, dated July 22, 2026.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).


			COMMUNITY HEALTH SYSTEMS, INC.

Date:	July 22, 2026	By:	/s/ Kevin J. Hammons
			Kevin J. Hammons Director and Chief Executive Officer (principal executive officer)


Investor Contact:	Kevin Hammons
	Director and
	Chief Executive Officer
	(615) 465-7000

CYH 8-K

FORM 8-K

Item 2.02 Results of Operations and Financial Condition.

Item 7.01 Regulation FD Disclosure.

Item 9.01 Financial Statements and Exhibits.




		By:	/s/ Jason K. Johnson
			Jason K. Johnson Executive Vice President and Chief Financial Officer (principal financial officer)




		By:	/s/ Phillip A. Posey
			Phillip A. Posey Senior Vice President and Chief Accounting Officer (principal accounting officer)


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2026		2025		2026			2025

Net operating revenues	$	2,825	$	3,133	$	5,790		$	6,292
Net income (f)		104		320		79			345
Net income attributable to Community Health Systems, Inc. stockholders		70		282		12			269
Adjusted EBITDA (c)		330		380		638			756
Net cash provided by (used in) operating activities		87		87		(209	)		208

Earnings per share attributable to Community Health Systems, Inc. stockholders:
Basic (f)	$	0.51	$	2.11	$	0.09		$	2.02
Diluted (e), (f)		0.51		2.09		0.09			2.01

Weighted-average number of shares outstanding (d):
Basic		135		134		135			133
Diluted		137		135		136			134


COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income (a)(b)
(In millions, except per share amounts)
(Unaudited)

	Three Months Ended June 30,
	2026							2025
				% of Net							% of Net
				Operating							Operating
	Amount			Revenues				Amount			Revenues
Net operating revenues	$	2,825			100.0		%	$	3,133			100.0		%
Operating expenses:
Salaries and benefits		1,237			43.8		%		1,327			42.4		%
Supplies		401			14.2		%		469			15.0		%
Other operating expenses		799			28.3		%		885			28.1		%
Lease cost and rent		63			2.2		%		74			2.4		%
Depreciation and amortization		108			3.8		%		105			3.4		%
Impairment and (gain) loss on sale of businesses, net (f)		(172	)		(6.1	)	%		(239	)		(7.6	)	%
Total operating expenses		2,436			86.2		%		2,621			83.7		%
Income from operations (f)		389			13.8		%		512			16.3		%
Interest expense, net		206			7.3		%		214			6.8		%
Loss (gain) from early extinguishment of debt		5			0.2		%		(138	)		(4.4	)	%
Equity in earnings of unconsolidated affiliates		(2	)		(0.1	)	%		(2	)		(0.1	)	%
Income before income taxes		180			6.4		%		438			14.0		%
Provision for income taxes		76			2.7		%		118			3.8		%
Net income (f)		104			3.7		%		320			10.2		%
Less: Net income attributable to noncontrolling interests		34			1.2		%		38			1.2		%
Net income attributable to Community Health Systems, Inc. stockholders	$	70			2.5		%	$	282			9.0		%
Earnings per share attributable to Community Health Systems, Inc. stockholders:
Basic (f)	$	0.51						$	2.11
Diluted (e), (f)	$	0.51						$	2.09
Weighted-average number of shares outstanding (d):
Basic		135							134
Diluted		137							135


	Six Months Ended June 30,
	2026							2025
				% of Net							% of Net
				Operating							Operating
	Amount			Revenues				Amount			Revenues
Net operating revenues	$	5,790			100.0		%	$	6,292			100.0		%
Operating expenses:
Salaries and benefits		2,559			44.1		%		2,699			42.9		%
Supplies		843			14.6		%		958			15.2		%
Other operating expenses		1,627			28.1		%		1,750			27.8		%
Lease cost and rent		132			2.3		%		142			2.3		%
Depreciation and amortization		222			3.8		%		211			3.4		%
Impairment and (gain) loss on sale of businesses, net (f)		(262	)		(4.5	)	%		(263	)		(4.2	)	%
Total operating expenses		5,121			88.4		%		5,497			87.4		%
Income from operations (f)		669			11.6		%		795			12.6		%
Interest expense, net		419			7.3		%		432			6.9		%
Loss (gain) from early extinguishment of debt		12			0.2		%		(138	)		(2.2	)	%
Equity in earnings of unconsolidated affiliates		(6	)		(0.1	)	%		(4	)		(0.1	)	%
Income before income taxes		244			4.2		%		505			8.0		%
Provision for income taxes		165			2.8		%		160			2.5		%
Net income (f)		79			1.4		%		345			5.5		%
Less: Net income attributable to noncontrolling interests		67			1.2		%		76			1.2		%
Net income attributable to Community Health Systems, Inc. stockholders	$	12			0.2		%	$	269			4.3		%
Earnings per share attributable to Community Health Systems, Inc. stockholders:
Basic (f)	$	0.09						$	2.02
Diluted (e), (f)	$	0.09						$	2.01
Weighted-average number of shares outstanding (d):
Basic		135							133
Diluted		136							134



COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES
Selected Operating Data (a)
(Dollars in millions)
(Unaudited)

	Three Months Ended June 30,
	Consolidated									Same-Store
	2026			2025			% Change			2026			2025			% Change
Number of hospitals (at end of period)		60			70						60			60
Licensed beds (at end of period)		8,863			10,478						8,863			8,844
Beds in service (at end of period)		7,665			8,983						7,665			7,646
Admissions		86,715			97,902			-11.4	%		84,001			82,455			1.9	%
Adjusted admissions		196,917			223,083			-11.7	%		191,510			186,089			2.9	%
Patient days		365,978			415,354						354,314			352,714
Average length of stay (days)		4.2			4.2						4.2			4.3
Occupancy rate (average beds in service)		52.5	%		50.8	%					50.8	%		50.7	%
Net operating revenues	$	2,825		$	3,133			-9.8	%	$	2,751		$	2,686			2.4	%
Net inpatient revenues as a % of net operating revenues		48.5	%		48.0	%					48.3	%		48.3	%
Net outpatient revenues as a % of net operating revenues		51.5	%		52.0	%					51.7	%		51.7	%
Income from operations (f)	$	389		$	512			-24.0	%
Income from operations as a % of net operating revenues		13.8	%		16.3	%
Depreciation and amortization	$	108		$	105
Net income attributable to Community Health Systems, Inc. stockholders	$	70		$	282			-75.2	%
Net income attributable to Community Health Systems, Inc. stockholders as a % of net operating revenues		2.5	%		9.0	%
Adjusted EBITDA (c)	$	330		$	380			-13.2	%
Adjusted EBITDA as a % of net operating revenues		11.7	%		12.1	%
Net cash provided by operating activities	$	87		$	87			0.0	%


	June 30, 2026			December 31, 2025
ASSETS
Current assets
Cash and cash equivalents	$	149		$	260
Patient accounts receivable		2,143			2,077
Supplies		271			322
Prepaid income taxes		-			13
Prepaid expenses		210			181
Other current assets		308			381
Total current assets		3,081			3,234
Property and equipment		8,039			8,912
Less accumulated depreciation and amortization		(3,856	)		(4,409	)
Property and equipment, net		4,183			4,503
Goodwill		3,228			3,316
Deferred income taxes		35			50
Other assets, net		1,650			2,101
Total assets	$	12,177		$	13,204

LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities
Current maturities of long-term debt	$	26		$	16
Current operating lease liabilities		100			110
Accounts payable		713			842
Income tax payable		74			-
Accrued liabilities:
Employee compensation		466			569
Accrued interest		197			238
Other		440			433
Total current liabilities		2,016			2,208
Long-term debt (g)		9,552			10,380
Deferred income taxes		25			25
Long-term operating lease liabilities		527			537
Other long-term liabilities		901			891
Total liabilities		13,021			14,041
Redeemable noncontrolling interests in equity of consolidated subsidiaries		320			322
STOCKHOLDERS’ DEFICIT
Community Health Systems, Inc. stockholders’ deficit:
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized; none issued		-			-
Common stock, $0.01 par value per share, 300,000,000 shares authorized; 141,010,284 shares issued and outstanding at June 30, 2026, and 138,626,917 shares issued and outstanding at December 31, 2025		1			1
Additional paid-in capital		2,179			2,185
Accumulated other comprehensive loss		(11	)		(9	)
Accumulated deficit		(3,559	)		(3,571	)
Total Community Health Systems, Inc. stockholders’ deficit		(1,390	)		(1,394	)
Noncontrolling interests in equity of consolidated subsidiaries		226			235
Total stockholders’ deficit		(1,164	)		(1,159	)
Total liabilities and stockholders’ deficit	$	12,177		$	13,204


	2026 Projection Range
Net operating revenues (in millions)	$	11,400		to	$	11,600
Adjusted EBITDA (in millions)	$	1,300		to	$	1,375
Net loss per share - diluted	$	(1.25	)	to	$	(1.10	)
Weighted-average diluted shares (in millions)		136		to		136




	Year Ending
	December 31, 2026
	Low			High
Net loss attributable to Community Health Systems, Inc.
stockholders (1)	$	(170	)	$	(149	)
Adjustments:
Depreciation and amortization		430			450
Interest expense, net		820			830
Provision for income taxes		85			99
Net income attributable to noncontrolling interests		135			145
Adjusted EBITDA (1)	$	1,300		$	1,375


	2026
	Guidance
Total	$	350	to	$	400


	2026
	Guidance
Total	$	300	to	$	500