E.J. BoyerStaff Writer- Nashville Business JournalEmail | Twitter
Community Health Systems’ (NYSE: CYH) earnings were up 61 percent in the fourth quarter compared to the same period a year ago.
Earnings were $85.6 million, or 70 cents per basic share, on revenue of $3.27 billion. According to CHS’ earnings report, the quarterly results included a 7 cents per share loss from the impairment “of certain long-lived assets” and a 9 cents per share loss related to expenses stemming from legal settlements. Barring those, CHS would have posted earnings of 85 cents per share, the company says. Analysts, on average, had estimated earnings of 85 cents per share on revenue of $3.25 billion, according to Thomson Reuters.
CEO Wayne Smith said in a news release, “Community Health Systems has continued to demonstrate success in a dynamic and challenging health care environment. Our results for 2012 confirm the strength of our operating model and our proven ability to execute our strategy to drive efficiencies in our hospitals, recruit and retain qualified physicians, make selective acquisitions and deliver high-quality health care services in a cost-effective manner. As we look ahead to 2013, we will continue to pursue a strategy that delivers value to both our community partners and our shareholders.”
Community Health Systems operates 135 hospitals in 29 states with an aggregate of approximately 20,000 licensed beds. Its hospitals offer a broad range of inpatient and surgical services, outpatient treatment and skilled nursing care.
Fourth quarter 2012 earnings: $85.6 million
Fourth quarter 2011 earnings: $53.1 million
Fourth quarter 2012 revenue: $3.27 billion