Community Health Systems falls after surprise Q4 loss

Community Health Systems

21/02/2024 12:21

** Shares of hospital operator Community Health Systems
 CYH.N  fall 18.3% to $3.33 premarket 
    ** Co reports Q4 adj. loss of 41 cents per share, compared
to a year ago profit of $1.50 per share
    ** Analysts were expecting a profit of 6 cents per share-
LSEG data  
    ** Co said the loss was due to higher costs as it paid more
for physicians' salaries and benefits
    ** Forecasts 2024 net loss between 65 cents and 5 cents per
share vs analysts estimates of profit of 7 cents per share 
     ** However, CYH reports Q4 net revenue of $3.18 bln vs
analysts' estimates of $3.16 bln
   ** Up to last close, stock down 39.8% in last 12 months 

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))