Community Health Sys Inc Stock Price, News & Analysis

Community Health Systems, Inc. (CYH) reported a net income of $311 million, or $2.57 per share, for Q4 2020, reversing a net loss of $(373) million in Q4 2019. Total net operating revenues decreased by 5.1% to $3.119 billion. The company recognized $153 million from pandemic relief funds. Adjusted EBITDA rose to $614 million from $447 million year-over-year. For the full year, CYH's net income was $511 million on revenues of $11.789 billion, down 10.8% from 2019. The company faced a 15.7% drop in admissions due to COVID-19 impacts, while managing operating costs effectively.

Community Health Systems, Inc. (CYH) has announced an online simulcast of its fourth quarter and year-end 2020 conference call, scheduled for February 18, 2021. The company will release its financial results on February 17, after market close. The presentation will cover the company’s operating results and can be accessed live starting at 10:00 a.m. CT. Community Health Systems operates 86 affiliated hospitals with around 14,000 licensed beds across 16 states, emphasizing its status as a major player in the U.S. hospital industry.

Community Health Systems (NYSE: CYH) has announced early results from its cash tender offer to purchase outstanding Junior-Priority Secured Notes due 2023. As of February 1, 2021, approximately $132.9 million, or 7.52%, of the total $1.77 billion in Junior-Priority Secured Notes were tendered and accepted. The settlement date for these notes is expected to be February 2, 2021, with the tender offer set to expire on February 16, 2021. The issuer previously issued a conditional notice of redemption for the remaining outstanding notes, effective February 4, 2021.

Community Health Systems, Inc. (NYSE: CYH) has announced the pricing of a $1.095 billion offering of 4.750% Senior Secured Notes due 2031. The offering is expected to close around February 9, 2021, subject to standard conditions. The net proceeds will be used to redeem all outstanding 8.625% Senior Secured Notes due 2024 and cover related expenses. The notes will be offered to institutional buyers under specific U.S. regulations and are not registered under the Securities Act, meaning they cannot be sold in the U.S. without proper registration.

Community Health Systems today announced a proposed offering of $1.095 billion in Senior Secured Notes due 2031 through its subsidiary. The proceeds will be used to redeem all outstanding 8.625% Senior Secured Notes due 2024 and cover related expenses. The offering is targeting qualified institutional buyers in the U.S. and will comply with SEC regulations. This announcement does not serve as a redemption notice for the 2024 Notes and is subject to market conditions.

Community Health Systems announced an amendment to its cash tender offer for Junior-Priority Secured Notes due 2023, increasing the tender offer consideration from $1,035.00 to $1,044.06 per $1,000 principal amount. The tender cap has been removed, allowing the purchase of any outstanding notes. The total consideration for notes validly tendered by February 1, 2021, is now $1,074.06. The offer is conditioned on raising at least $1,768,697,000 through debt financing. A conditional notice for redemption on February 4, 2021, reflects a price of 107.406% plus accrued interest.

Community Health Systems announced a $1.775 billion offering of 6.875% Junior-Priority Secured Notes due 2029. The offering size increased by $1.025 billion. Proceeds will be used to repurchase outstanding Junior-Priority Secured Notes due 2023 and cover related expenses. The Notes are offered to qualified institutional buyers under Rule 144A and Regulation S of the Securities Act. The closing is anticipated on February 2, 2021, pending customary conditions.

Community Health Systems announced a cash tender offer for up to $750 million of its Junior-Priority Secured Notes due 2023. This offer targets approximately $1,769 million of outstanding notes and will expire on February 16, 2021, unless extended. Holders tendering their notes by February 1, 2021, may receive an early tender payment of $30.00 per $1,000 principal amount. The offer is contingent upon completing a debt financing yielding at least $750 million. Credit Suisse is the dealer manager for this transaction.

Community Health Systems (NYSE: CYH) plans to offer $750 million in Junior-Priority Secured Notes due 2029. The net proceeds will be used to repurchase up to $750 million of its 2023 Junior-Priority Secured Notes and cover related expenses. The offering targets qualified institutional buyers under Rule 144A and is subject to market conditions. The Notes will not be registered under the Securities Act, thus limiting their sale within the U.S. The press release contains forward-looking statements with associated risks and uncertainties.