Community Health Systems, Inc. CYH is slated to announce its fourth-quarter 2023 results on Feb 20, after the closing bell.
Estimates for Q4 Earnings
The Zacks Consensus Estimate for fourth-quarter earnings per share of 3 cents reveals a 98% decrease from the previous year’s $1.50. The consensus remained steady over the past week. The consensus estimate for fourth-quarter revenues of nearly $3.2 billion indicates a 0.4% increase from the year-ago figure.
Community Health beat the consensus estimate for earnings in two of the prior four quarters and missed twice, with the average surprise being 22.1%.
Community Health Systems, Inc. Q3 Performance
In the last reported quarter, the hospital operator posted an adjusted loss per share of 33 cents, wider than the Zacks Consensus Estimate of a loss of 16 cents. The decline in patient days, length of stay, and licensed beds, along with rising expenses, impacted the results. However, better admissions partially offset the negatives.
Factors Affecting Q4 Performance
Lower adjusted admissions and declining beds in services, patient days, and occupancy rates are expected to have impacted Community Health’s fourth-quarter performance. The decline in hospital numbers and occupancy rate is likely to have further dampened the company’s position. Additionally, lower patient days are expected to put a strain on earnings, although lower expenses may offer some respite.
Earnings Whispers
The company’s Earnings ESP is +47.06%, as the Most Accurate Estimate is currently pegged at 5 cents per share, higher than the Zacks Consensus Estimate of 3 cents. However, Community Health currently carries a Zacks Rank #4 (Sell).
Alternatives in the Medical Space
While an earnings beat looks uncertain for Community Health, companies like Amedisys, Inc., Globus Medical, Inc., and Codexis, Inc. seem to have the right factors to post positive results this time around. AMED, GMED, and CDXS have shown potential for an earnings beat in the upcoming announcement.
It’s important to stay informed about upcoming earnings announcements with tools such as the Zacks Earnings Calendar.
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