CHS sees increase in net operating revenues

Community Health Systems Inc. on Monday reported third quarter 2014 results with net operating revenues of $4.795 billion.

During the third quarter and the first nine months of the year, CHS was up over the same periods in 2013 more than 52 percent and 42 percent, respectively. The data includes Health Management Associates Inc.’s operating results from Jan. 27, when CHS completed its acquisition of HMA.

CHS owns ValleyCare Health System of Ohio, which operates health-care facilities in Mahoning and Trumbull counties in Ohio. Earlier this year, CHS acquired Sharon Regional Health System in Pennsylvania.

Net operating revenues for the three months that ended Sept. 30 totaled $4.795 billion, a 51.1 percent increase compared to $3.174 billion for the same period in 2013. Income from continuing operations attributable to common stockholders increased to $61 million, or $0.53 per share (diluted), for the quarter, compared to $10 million, or $0.11 per share (diluted), for the same period in 2013.

Adjusted earnings before interest, taxes, depreciation, and amortization for the three months ended Sept. 30 was $663 million compared to $382 million for the same period in 2013, representing a 73.6 percent increase.

Net operating revenues for the nine months ending Sept. 30 totaled $13.759 billion, a 42.9 percent increase compared to $9.628 billion for the same period in 2013.

Income from continuing operations attributable to CHS common stockholders decreased to $18 million, or $0.16 per share (diluted), for the nine-month period compared with $128 million, or $1.37 per share (diluted), for the same period in 2013. Adjusted EBITDA for the nine months ended Sept. 30 was $1.826 billion compared with $1.297 billion for the same period in 2013, representing a 40.8 percent increase.