Community Health Systems, Inc. announced net operating revenues of $3.090 billion for the third quarter ended September 30, 2024, a slight increase of 0.1% compared to the same period in 2023. On a same-store basis, net operating revenues increased by 5.1%, driven by higher same-store volumes, increased reimbursement rates, and supplemental Medicaid programs.
The company reported a net loss attributable to stockholders of $(391) million, or $(2.95) per diluted share, for Q3 2024, a significant increase from a net loss of $(91) million in the prior year. This was primarily due to a change in the professional liability claims accrual and period-over-period changes in impairment and gain/loss on the sale of businesses.
Adjusted EBITDA for the quarter was $347 million, down from $360 million in Q3 2023, impacted by increased salaries and benefits, higher costs for outsourced medical specialists, and an estimated $7 million pre-tax loss from Hurricane Helene. Despite these challenges, the company extinguished approximately $143 million principal value of its 5⅝% Senior Secured Notes due 2027 through open market repurchases, demonstrating ongoing debt management efforts.
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