Community Health Systems Posts $86 Million Q3 Loss, Cuts Full-Year 2026 Guidance

Community Health Systems Inc. (CYH) reported a third-quarter net loss of $86 million, or $0.63 per share, reversing prior-year net income of $130 million, or $0.96 per share, and lowered its full-year 2026 outlook on Wednesday. Net operating revenues fell 10.7% to $2.76 billion from $3.09 billion, while same-store revenue rose 3.8% on a 2.2% increase in same-store admissions. Adjusted EBITDA declined 25.5% to $280 million from $376 million, hurt by hospital divestitures, an unfavorable payer mix, lower non-patient revenue and higher medical specialist fees and supplemental reimbursement program expenses. The hospital operator now projects 2026 revenue of $11.3 billion to $11.5 billion, Adjusted EBITDA of $1.225 billion to $1.275 billion, and a loss per share of $1.60 to $1.70. It previously guided revenue of $11.40 billion to $11.60 billion, Adjusted EBITDA of $1.300 billion to $1.375 billion, and a loss per share of $1.25 to $1.10.