Community Health Systems Inc 8-K, filed Oct 28, 2026

Community Health Systems Inc (CYH)

8-K 2026-10-28 For: 2026-10-28

Added on October 28, 2026

About this 8-K

Community Health Systems Inc filed this 8-K on October 28, 2026.

Community Health Systems reported third-quarter revenue of $2.757 billion and $280 million Adjusted EBITDA. Its 2026 guidance projects revenue of $11,300 to $11,500 million, Adjusted EBITDA of $1,225 to $1,275 million and net loss per share of $(1.70) to $(1.60). AI summary

Items reported

Item 2.02: Financial results
Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

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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 October 28, 2026.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).


			COMMUNITY HEALTH SYSTEMS, INC.

Date:	October 28, 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

Community Health Systems Inc 8-K, filed Oct 28, 2026

About this 8-K

Items reported

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					Nine Months Ended
	September 30,					September 30,
	2026			2025		2026			2025

Net operating revenues	$	2,757		$	3,087	$	8,547		$	9,379
Net (loss) income (f)		(50	)		171		28			516
Net (loss) income attributable to Community Health Systems, Inc. stockholders		(86	)		130		(74	)		399
Adjusted EBITDA (c)		280			376		918			1,131
Net cash provided by (used in) operating activities		155			70		(55	)		277

(Loss) earnings per share attributable to Community Health Systems, Inc. stockholders:
Basic (f)	$	(0.63	)	$	0.97	$	(0.55	)	$	2.99
Diluted (e), (f)		(0.63	)		0.96		(0.55	)		2.97

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


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

	Three Months Ended September 30,
	2026							2025
				% of Net							% of Net
				Operating							Operating
	Amount			Revenues				Amount			Revenues
Net operating revenues	$	2,757			100.0		%	$	3,087			100.0		%
Operating expenses:
Salaries and benefits		1,213			44.1		%		1,356			43.9		%
Supplies		407			14.8		%		460			14.9		%
Other operating expenses		809			29.3		%		832			26.9		%
Lease cost and rent		62			2.2		%		67			2.2		%
Depreciation and amortization		106			3.8		%		108			3.5		%
Impairment and (gain) loss on sale of businesses, net (f)		14			0.5		%		21			0.7		%
Total operating expenses		2,611			94.7		%		2,844			92.1		%
Income from operations (f)		146			5.3		%		243			7.9		%
Interest expense, net		201			7.3		%		216			7.0		%
Loss from early extinguishment of debt		-			-		%		33			1.1		%
Equity in earnings of unconsolidated affiliates		(2	)		(0.1	)	%		(4	)		(0.1	)	%
Loss before income taxes		(53	)		(1.9	)	%		(2	)		(0.1	)	%
Benefit from income taxes		(3	)		(0.1	)	%		(173	)		(5.6	)	%
Net (loss) income (f)		(50	)		(1.8	)	%		171			5.5		%
Less: Net income attributable to noncontrolling interests		36			1.3		%		41			1.3		%
Net (loss) income attributable to Community Health Systems, Inc. stockholders	$	(86	)		(3.1	)	%	$	130			4.2		%
(Loss) earnings per share attributable to Community Health Systems, Inc. stockholders:
Basic (f)	$	(0.63	)					$	0.97
Diluted (e), (f)	$	(0.63	)					$	0.96
Weighted-average number of shares outstanding (d):
Basic		136							134
Diluted		136							135


	Nine Months Ended September 30,
	2026							2025
				% of Net							% of Net
				Operating							Operating
	Amount			Revenues				Amount			Revenues
Net operating revenues	$	8,547			100.0		%	$	9,379			100.0		%
Operating expenses:
Salaries and benefits		3,771			44.2		%		4,056			43.2		%
Supplies		1,249			14.6		%		1,418			15.1		%
Other operating expenses		2,437			28.5		%		2,583			27.6		%
Lease cost and rent		195			2.3		%		209			2.2		%
Depreciation and amortization		328			3.8		%		317			3.4		%
Impairment and (gain) loss on sale of businesses, net (f)		(248	)		(2.9	)	%		(242	)		(2.6	)	%
Total operating expenses		7,732			90.5		%		8,341			88.9		%
Income from operations (f)		815			9.5		%		1,038			11.1		%
Interest expense, net		620			7.3		%		649			6.9		%
Loss (gain) from early extinguishment of debt		12			0.1		%		(105	)		(1.1	)	%
Equity in earnings of unconsolidated affiliates		(8	)		(0.1	)	%		(9	)		(0.1	)	%
Income before income taxes		191			2.2		%		503			5.4		%
Provision for (benefit from) income taxes		163			1.9		%		(13	)		(0.1	)	%
Net income (f)		28			0.3		%		516			5.5		%
Less: Net income attributable to noncontrolling interests		102			1.2		%		117			1.2		%
Net (loss) income attributable to Community Health Systems, Inc. stockholders	$	(74	)		(0.9	)	%	$	399			4.3		%
(Loss) earnings per share attributable to Community Health Systems, Inc. stockholders:
Basic (f)	$	(0.55	)					$	2.99
Diluted (e), (f)	$	(0.55	)					$	2.97
Weighted-average number of shares outstanding (d):
Basic		135							133
Diluted		135							135


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

	Three Months Ended September 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)		8,872			10,478						8,872			8,844
Beds in service (at end of period)		7,674			8,983						7,674			7,646
Admissions		85,591			97,648			-12.3	%		85,591			83,708			2.2	%
Adjusted admissions		195,677			222,159			-11.9	%		195,694			188,929			3.6	%
Patient days		360,711			411,105						360,711			354,382
Average length of stay (days)		4.2			4.2						4.2			4.2
Occupancy rate (average beds in service)		51.1	%		49.7	%					51.1	%		50.4	%
Net operating revenues	$	2,757		$	3,087			-10.7	%	$	2,750		$	2,650			3.8	%
Net inpatient revenues as a % of net operating revenues		47.8	%		47.5	%					47.8	%		47.6	%
Net outpatient revenues as a % of net operating revenues		52.2	%		52.5	%					52.2	%		52.4	%
Income from operations (f)	$	146		$	243			-39.9	%
Income from operations as a % of net operating revenues		5.3	%		7.9	%
Depreciation and amortization	$	106		$	108
Net (loss) income attributable to Community Health Systems, Inc. stockholders	$	(86	)	$	130			-166.2	%
Net (loss) income attributable to Community Health Systems, Inc. stockholders as a % of net operating revenues		-3.1	%		4.2	%
Adjusted EBITDA (c)	$	280		$	376			-25.5	%
Adjusted EBITDA as a % of net operating revenues		10.2	%		12.2	%
Net cash provided by operating activities	$	155		$	70			121.4	%


	September 30, 2026			December 31, 2025
ASSETS
Current assets
Cash and cash equivalents	$	155		$	260
Patient accounts receivable		2,102			2,077
Supplies		268			322
Prepaid income taxes		-			13
Prepaid expenses		185			181
Other current assets		289			381
Total current assets		2,999			3,234
Property and equipment		8,170			8,912
Less accumulated depreciation and amortization		(3,934	)		(4,409	)
Property and equipment, net		4,236			4,503
Goodwill		3,233			3,316
Deferred income taxes		36			50
Other assets, net		1,604			2,101
Total assets	$	12,108		$	13,204

LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities
Current maturities of long-term debt	$	18		$	16
Current operating lease liabilities		100			110
Accounts payable		831			842
Income tax payable		55			-
Accrued liabilities:
Employee compensation		431			569
Accrued interest		173			238
Other		413			433
Total current liabilities		2,021			2,208
Long-term debt (g)		9,568			10,380
Deferred income taxes		25			25
Long-term operating lease liabilities		523			537
Other long-term liabilities		908			891
Total liabilities		13,045			14,041
Redeemable noncontrolling interests in equity of consolidated subsidiaries		336			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; 140,999,408 shares issued and outstanding at September 30, 2026, and 138,626,917 shares issued and outstanding at December 31, 2025		1			1
Additional paid-in capital		2,169			2,185
Accumulated other comprehensive loss		(18	)		(9	)
Accumulated deficit		(3,644	)		(3,571	)
Total Community Health Systems, Inc. stockholders’ deficit		(1,492	)		(1,394	)
Noncontrolling interests in equity of consolidated subsidiaries		219			235
Total stockholders’ deficit		(1,273	)		(1,159	)
Total liabilities and stockholders’ deficit	$	12,108		$	13,204


	2026 Projection Range
Net operating revenues (in millions)	$	11,300		to	$	11,500
Adjusted EBITDA (in millions)	$	1,225		to	$	1,275
Net loss per share - diluted	$	(1.70	)	to	$	(1.60	)
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)	$	(231	)	$	(217	)
Adjustments:
Depreciation and amortization		430			440
Interest expense, net		820			830
Provision for income taxes		71			77
Net income attributable to noncontrolling interests		135			145
Adjusted EBITDA (1)	$	1,225		$	1,275


	2026
	Guidance
Total	$	350	to	$	400