Revenue: As of FY2026 Q2, the actual value is USD 2.825 B, missing the estimate of USD 2.885 B.

EPS: As of FY2026 Q2, the actual value is USD 0.51, beating the estimate of USD -0.2.

EBIT: As of FY2026 Q2, the actual value is USD 386 M.

Financial Highlights (Three Months Ended June 30, 2026 vs. 2025)

Net Income

Net income attributable to Community Health Systems, Inc. stockholders was $70 million in 2026, compared to $282 million for the same period in 2025. Excluding adjusting items, net loss attributable to Community Health Systems, Inc. stockholders was - $0.19 per share (diluted) in 2026, compared to - $0.05 per share (diluted) in 2025.

Adjusted EBITDA

Adjusted EBITDA was $330 million in 2026, compared to $380 million for the same period in 2025.

Net Cash Provided by Operating Activities

Net cash provided by operating activities was $87 million for both periods.

Operating Expenses

• Salaries and benefits were $1.237 billion (43.8% of net operating revenues) in 2026, compared to $1.327 billion (42.4%) in 2025.
• Supplies were $401 million (14.2%) in 2026, compared to $469 million (15.0%) in 2025.
• Other operating expenses were $799 million (28.3%) in 2026, compared to $885 million (28.1%) in 2025.
• Lease cost and rent were $63 million (2.2%) in 2026, compared to $74 million (2.4%) in 2025.
• Depreciation and amortization were $108 million (3.8%) in 2026, compared to $105 million (3.4%) in 2025.
• Impairment and (gain) loss on sale of businesses, net, was - $172 million (-6.1%) in 2026, compared to - $239 million (-7.6%) in 2025.
• Total operating expenses were $2.436 billion (86.2%) in 2026, compared to $2.621 billion (83.7%) in 2025.
• Income from operations was $389 million (13.8%) in 2026, compared to $512 million (16.3%) in 2025.
• Interest expense, net, was $206 million (7.3%) in 2026, compared to $214 million (6.8%) in 2025.
• Loss (gain) from early extinguishment of debt was $5 million (0.2%) in 2026, compared to - $138 million (-4.4%) in 2025.
• Provision for income taxes was $76 million (2.7%) in 2026, compared to $118 million (3.8%) in 2025.
• Net income attributable to noncontrolling interests was $34 million (1.2%) in 2026, compared to $38 million (1.2%) in 2025.

Financial Highlights (Six Months Ended June 30, 2026 vs. 2025)

Net Income

Net income attributable to Community Health Systems, Inc. stockholders was $12 million in 2026, compared to $269 million for the same period in 2025.

Adjusted EBITDA

Adjusted EBITDA was $638 million in 2026, compared to $756 million for the same period in 2025.

Net Cash Used in Operating Activities

Net cash used in operating activities was - $209 million in 2026, compared to net cash provided of $208 million in 2025.

Operating Expenses

• Salaries and benefits were $2.559 billion (44.1% of net operating revenues) in 2026, compared to $2.699 billion (42.9%) in 2025.
• Supplies were $843 million (14.6%) in 2026, compared to $958 million (15.2%) in 2025.
• Other operating expenses were $1.627 billion (28.1%) in 2026, compared to $1.750 billion (27.8%) in 2025.
• Lease cost and rent were $132 million (2.3%) in 2026, compared to $142 million (2.3%) in 2025.
• Depreciation and amortization were $222 million (3.8%) in 2026, compared to $211 million (3.4%) in 2025.
• Impairment and (gain) loss on sale of businesses, net, was - $262 million (-4.5%) in 2026, compared to - $263 million (-4.2%) in 2025.
• Total operating expenses were $5.121 billion (88.4%) in 2026, compared to $5.497 billion (87.4%) in 2025.
• Income from operations was $669 million (11.6%) in 2026, compared to $795 million (12.6%) in 2025.
• Interest expense, net, was $419 million (7.3%) in 2026, compared to $432 million (6.9%) in 2025.
• Loss (gain) from early extinguishment of debt was $12 million (0.2%) in 2026, compared to - $138 million (-2.2%) in 2025.
• Provision for income taxes was $165 million (2.8%) in 2026, compared to $160 million (2.5%) in 2025.
• Net income attributable to noncontrolling interests was $67 million (1.2%) in 2026, compared to $76 million (1.2%) in 2025.

Operational Metrics (Three Months Ended June 30, 2026 vs. 2025)

• Consolidated admissions were 86,715 in 2026, an -11.4% change from 97,902 in 2025, while same-store admissions increased 1.9% to 84,001 in 2026 from 82,455 in 2025.
• Consolidated adjusted admissions were 196,917 in 2026, an -11.7% change from 223,083 in 2025, with same-store adjusted admissions increasing 2.9% to 191,510 in 2026 from 186,089 in 2025.
• The number of hospitals at period end was 60 in 2026, down from 70 in 2025; licensed beds were 8,863 in 2026, down from 10,478 in 2025; and beds in service were 7,665 in 2026, down from 8,983 in 2025.
• The occupancy rate (average beds in service) was 52.5% in 2026, up from 50.8% in 2025.

Operational Metrics (Six Months Ended June 30, 2026 vs. 2025)

• Consolidated admissions were 181,237 in 2026, an -11.1% change from 203,839 in 2025, with same-store admissions flat at 169,100 in 2026 compared to 169,116 in 2025.
• Consolidated adjusted admissions were 403,314 in 2026, an -11.1% change from 453,779 in 2025, while same-store adjusted admissions increased 1.0% to 376,842 in 2026 from 372,928 in 2025.
• The number of hospitals at period end was 60 in 2026, down from 70 in 2025; licensed beds were 8,863 in 2026, down from 10,478 in 2025; and beds in service were 7,665 in 2026, down from 8,983 in 2025.
• The occupancy rate (average beds in service) was 55.9% in 2026, up from 54.4% in 2025.

Cash Flows from Investing Activities (Six Months Ended June 30, 2026 vs. 2025)

Net cash provided by investing activities was $1.000 billion in 2026, compared to $786 million in 2025. This included $1.218 billion in proceeds from disposition of hospitals and other ancillary operations in 2026, up from $1.013 billion in 2025. Purchases of property and equipment were - $152 million in 2026, compared to - $176 million in 2025.

Cash Flows from Financing Activities (Six Months Ended June 30, 2026 vs. 2025)

Net cash used in financing activities was - $902 million in 2026, compared to - $575 million in 2025. Repayments of long-term indebtedness were - $1.544 billion in 2026, compared to - $3.380 billion in 2025.

Other Key Financial Indicators

Community Health Systems, Inc. repurchased approximately $368 million principal amount of its 4.750% Senior Secured Notes due 2031 and approximately $231 million principal amount of its 10.875% Senior Secured Notes due 2032 using cash from recent divestiture proceeds. During 2026, the Company divested an 80% ownership interest in one hospital and eight other hospitals. At June 30, 2026, Community Health Systems, Inc. had no outstanding borrowings and approximately $751 million of additional borrowing capacity under its ABL Facility.

Outlook / Guidance (Year Ending December 31, 2026)

Community Health Systems, Inc. projects net operating revenues between $11.400 billion and $11.600 billion, with Adjusted EBITDA expected to range from $1.300 billion to $1.375 billion. The company anticipates a net loss per share (diluted) between - $1.25 and - $1.10 and projects net cash provided by operating activities to be between $300 million and $500 million. Capital expenditures are estimated to be between $350 million and $400 million for the year.