CYH - Community Health Systems Q3 results miss estimates hospital admissions fall

• Community Health Systems press release ( NYSE: CYH ): Q3 Non-GAAP EPS of -$0.52 misses by $0.50 .
• Revenue of $3.03B (-2.9% Y/Y) misses by $10M .
• On a same-store basis, Q3 admissions fell 2.2% Y/Y and adjusted admissions rose 5.2% Y/Y.
• Hurricane Ian impacted Q3, resulting in a loss of net operating revenues together with incremental expenses currently estimated at about $10M.
• CYH had 81 hospitals and 13.3K licensed beds as of Sept. 30, 2022, compared to 84 hospitals and 13.2K licensed beds a year earlier.
• Q3 occupancy rate was 46.7% vs. 53.5% a year ago.
• Shares -4.4% after hours.

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