Community Health Systems posts $86M Q3 2026 loss

CYH's updated 2026 projections include Adjusted EBITDA of $1.225 billion to $1.275 billion and net loss per diluted share of $(1.70) to $(1.60).

Rhea-AI Filing Summary

Community Health Systems, Inc. (CYH) reported third-quarter 2026 net operating revenues of $2.757 billion, down 10.7% from $3.087 billion in 2025; same-store net operating revenues increased 3.8%. Net loss attributable to Community Health Systems, Inc. stockholders was $86 million, or $0.63 per diluted share, versus $130 million net income a year earlier. Adjusted EBITDA, a non-GAAP measure, was $280 million, down 25.5% from $376 million, while net cash provided by operating activities was $155 million versus $70 million. The company cited divestitures, unfavorable payor mix, lower non-patient revenue and higher specialist fees and supplemental reimbursement program expense among factors in lower EBITDA.

For the nine months ended September 30, 2026, net operating revenues were $8.547 billion, down 8.9%; Adjusted EBITDA was $918 million versus $1.131 billion, and operating activities used $55 million of cash versus providing $277 million. CYH updated 2026 guidance to net operating revenues of $11.3 billion to $11.5 billion, Adjusted EBITDA of $1.225 billion to $1.275 billion and a net loss per diluted share of $(1.70) to $(1.60). Projected capital expenditures are $350 million to $400 million, and operating cash flow is $100 million to $300 million. Through October 28, 2026, the company had divested its 80% ownership interest in one hospital and nine other hospitals.

1 point · 0 major

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Positive

• Moderate pointQuarterly operating cash flow increased 121.4% to $155 million.

Negative

• Major pointQuarterly stockholder loss was $86 million, versus $130 million net income.
• Moderate pointQuarterly revenue fell 10.7%, and Adjusted EBITDA fell 25.5%.
• Moderate pointNine-month operating cash flow used $55 million, versus $277 million provided.

Filing Explained

At September 30, 2026, approximately $745 million of ABL capacity was available but undrawn, so it represented borrowing access—not cash held.

The release reports $1,210 million of proceeds from hospital and other ancillary-operation dispositions during the nine months ended September 30, 2026, recorded as investing cash inflows.

At September 30, 2026, CYH reported $155 million in cash and $9,568 million in long-term debt; the ABL Facility had no outstanding borrowings and approximately $745 million of additional borrowing capacity after $32 million in letters of credit, subject to borrowing-base capacity.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Third-quarter net operating revenues: $2.757 billion Third-quarter stockholder net loss: $86 million Third-quarter Adjusted EBITDA: $280 million +5 more

8 metrics

Third-quarter net operating revenues $2.757 billion Three months ended September 30, 2026; down 10.7% from the same period in 2025

Third-quarter stockholder net loss $86 million Three months ended September 30, 2026

Third-quarter Adjusted EBITDA $280 million Three months ended September 30, 2026; down 25.5% from the same period in 2025

Third-quarter net cash provided by operating activities $155 million Three months ended September 30, 2026; compared with $70 million in the same period in 2025

Nine-month net operating revenues $8.547 billion Nine months ended September 30, 2026; down 8.9% from the same period in 2025

Nine-month net cash used in operating activities $55 million Nine months ended September 30, 2026; compared with $277 million provided in the same period in 2025

2026 net operating revenues guidance $11.3 billion to $11.5 billion Projected for the year ending December 31, 2026

2026 Adjusted EBITDA guidance $1.225 billion to $1.275 billion Projected for the year ending December 31, 2026

Key Terms

Adjusted EBITDA, same-store basis, noncontrolling interests, ABL Facility, +1 more

5 terms

Adjusted EBITDA financial

"Adjusted EBITDA was $280 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

same-store basis financial

"On a same-store basis, net operating revenues increased 3.8 percent"

A measure of revenue or sales growth that compares performance only for locations or operations that were open in both the current and prior reporting periods, excluding new or closed outlets. It matters to investors because it isolates organic, like-for-like performance from gains driven by opening or buying new locations, giving a clearer view of whether the core business is improving—like comparing how the same set of stores did this year versus last year.

noncontrolling interests financial

"Net income attributable to noncontrolling interests"

The portion of a subsidiary’s equity and profits that belongs to outside owners rather than the parent company; when a parent reports consolidated results it includes the whole subsidiary but shows the noncontrolling slice separately. Think of a company’s subsidiary as a pie where the parent owns most slices but some are held by other investors — noncontrolling interests tell you how much of the pie and its future earnings don’t belong to the parent, which affects how much profit and net assets are truly attributable to the parent’s shareholders.

ABL Facility financial

"under the ABL Facility"

An ABL facility is a line of credit where a company borrows money using its current assets—like accounts receivable, inventory or equipment—as the primary form of security. It works like a home equity line but tied to business assets: the more valuable and easily sold those assets are, the more the company can borrow. Investors watch ABLs because they affect a company’s liquidity, borrowing capacity and financial flexibility, and because repayments depend on the condition and turnover of the underlying assets.

borrowing base capacity financial

"subject to borrowing base capacity"

Earnings Snapshot

Net operating revenues: $2.757 billion · Guidance included

Three months ended September 30, 2026

Net operating revenues $2.757 billion Down 10.7% from $3.087 billion in the same period of 2025

Net loss attributable to Community Health Systems, Inc. stockholders $86 million loss Compared with $130 million net income in the same period of 2025

Adjusted EBITDA $280 million Down 25.5% from $376 million in the same period of 2025

Net cash provided by operating activities $155 million Up 121.4% from $70 million in the same period of 2025

Guidance

For 2026: net operating revenues of $11.3 billion to $11.5 billion; Adjusted EBITDA of $1.225 billion to $1.275 billion; net loss per diluted share of $(1.70) to $(1.60).

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were CYH's third-quarter 2026 results?

CYH reported $2.757 billion in net operating revenues, a net loss attributable to stockholders of $86 million, or $0.63 per diluted share, and Adjusted EBITDA of $280 million for the three months ended September 30, 2026. Same-store net operating revenues increased 3.8% year over year.

What is CYH's updated 2026 guidance?

CYH's 2026 guidance projects net operating revenues of $11.3 billion to $11.5 billion, Adjusted EBITDA of $1.225 billion to $1.275 billion, and a net loss per diluted share of $(1.70) to $(1.60). Capital expenditures are projected at $350 million to $400 million.

What does CYH's 2026 guidance exclude?

CYH's projections exclude from net operating revenues, Adjusted EBITDA and net loss per diluted share the effect of future divestitures lacking definitive agreements, debt refinancing, potential Rural Health Transformation Program grants, impairments, business-sale gains or losses and related taxes, restructuring costs, significant legal resolutions, divestiture costs, and other significant nonordinary gains or losses.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/28/2026 - 04:31 PM EDT Accepted by SEC EDGAR 10/28/2026 - 04:30 PM EDT Learn about SEC filing dates

false000110810900011081092026-10-282026-10-28

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 28, 2026

COMMUNITY HEALTH SYSTEMS, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware			001-15925	13-3893191
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
4000 Meridian Boulevard
Franklin, Tennessee				37067
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (615) 465-7000

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $.01 par value		CYH		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

The information contained in this Current Report on Form 8-K (including the exhibits hereto) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.

Item 2.02 Results of Operations and Financial Condition.

On October 28, 2026, Community Health Systems, Inc. (the “Company”) announced operating results for the third quarter ended September 30, 2026. A copy of the press release making this announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 2.02.

Item 7.01 Regulation FD Disclosure.

The press release referred to in Item 2.02 above also includes the Company’s 2026 updated annual earnings guidance. This 2026 guidance is based on the Company’s historical operating performance, current trends and other assumptions the Company believes are reasonable at this time as set forth on pages 16, 17, 18, 19 and 20 of the press release. A copy of the press release making this announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 7.01.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Description
99.1		Community Health Systems, Inc. Press Release, dated October 28, 2026.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			COMMUNITY HEALTH SYSTEMS, INC.
Date:	October 28, 2026	By:	/s/ Kevin J. Hammons
			Kevin J. Hammons Director and Chief Executive Officer (principal executive officer)

		By:	/s/ Jason K. Johnson
			Jason K. Johnson Executive Vice President and Chief Financial Officer (principal financial officer)

		By:	/s/ Phillip A. Posey
			Phillip A. Posey Senior Vice President and Chief Accounting Officer (principal accounting officer)

3

	Exhibit Number
	99.1

Investor Contact:	Kevin Hammons
	Director and
	Chief Executive Officer
	(615) 465-7000

COMMUNITY HEALTH SYSTEMS, INC. ANNOUNCES THIRD QUARTER

ENDED SEPTEMBER 30, 2026 RESULTS

FRANKLIN, Tenn. (October 28, 2026) – Community Health Systems, Inc. (NYSE: CYH) (the “Company”) today announced financial and operating results for the three and nine months ended September 30, 2026.

The following highlights the financial and operating results for the three months ended September 30, 2026.

•Net operating revenues totaled $2.757 billion.

•Net loss attributable to Community Health Systems, Inc. stockholders was $(86) million, or $(0.63) per share (diluted), compared to net income of $130 million, or $0.96 per share (diluted), for the same period in 2025. Excluding the adjusting items as presented in the table in footnote (e) on page 15, net loss attributable to Community Health Systems, Inc. stockholders was $(0.48) per share (diluted), compared to net income of $1.27 per share (diluted) for the same period in 2025.

•Adjusted EBITDA was $280 million.

•Net cash provided by operating activities was $155 million for the three months ended September 30, 2026, compared to $70 million for the same period in 2025.

•On a same-store basis, admissions increased 2.2 percent and adjusted admissions increased 3.6 percent, compared to the same period in 2025.

Commenting on the results, Kevin J. Hammons, chief executive officer of Community Health Systems, Inc., said, “We are pleased to make continued progress on our strategic initiatives around quality outcomes, patient satisfaction, physician experience, and employee satisfaction and remain confident these investments will lead to improved financial performance. While volume trends and cash flow improved sequentially in the third quarter, payor mix and acuity did not develop as expected due to the challenging macro environment, negatively impacting financial results for the third quarter and our expectations for the remainder of the year.”

Three Months Ended September 30, 2026

Net operating revenues for the three months ended September 30, 2026, totaled $2.757 billion, a 10.7 percent decrease compared to $3.087 billion for the same period in 2025. On a same-store basis, net operating revenues increased 3.8 percent for the three months ended September 30, 2026, compared to the same period in 2025. Net operating revenues for the three months ended September 30, 2026, reflect a 12.3 percent decrease in admissions and an 11.9 percent decrease in adjusted admissions, compared to the same period in 2025. On a same-store basis, admissions increased 2.2 percent and adjusted admissions increased 3.6 percent for the three months ended September 30, 2026, compared to the same period in 2025.

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CYH Announces Third Quarter 2026 Results

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October 28, 2026

Net loss attributable to Community Health Systems, Inc. stockholders was $(86) million, or $(0.63) per share (diluted), for the three months ended September 30, 2026, compared to net income of $130 million, or $0.96 per share (diluted), for the same period in 2025. Excluding the adjusting items as presented in the table in footnote (e) on page 15, net loss attributable to Community Health Systems, Inc. stockholders was $(0.48) per share (diluted) for the three months ended September 30, 2026, compared to net income of $1.27 per share (diluted) for the same period in 2025.

Adjusted EBITDA for the three months ended September 30, 2026, was $280 million compared to $376 million for the same period in 2025.

The difference in the amount of net loss attributable to Community Health Systems, Inc. stockholders for the three months ended September 30, 2026, compared to the amount of net income for the same period in 2025, was primarily due to a decrease in the benefit from income taxes and the factors that contributed to a decrease in Adjusted EBITDA as noted below, partially offset by a period-over-period change in loss from early extinguishment of debt and lower interest expense. The decrease in Adjusted EBITDA for the three months ended September 30, 2026, compared to the same period in 2025, is primarily attributable to divestitures, an unfavorable change in payor mix, a decline in non-patient revenue, resulting primarily from the receipt of $28 million for the settlement of a legal matter during the three months ended September 30, 2025, and higher medical specialist fees and supplemental reimbursement program expense, partially offset by increased volumes and reimbursement rates.

Nine Months Ended September 30, 2026

Net operating revenues for the nine months ended September 30, 2026, totaled $8.547 billion, an 8.9 percent decrease compared to $9.379 billion for the same period in 2025. On a same-store basis, net operating revenues increased 2.9 percent for the nine months ended September 30, 2026, compared to the same period in 2025. Net operating revenues for the nine months ended September 30, 2026, reflect an 11.5 percent decrease in admissions and an 11.4 percent decrease in adjusted admissions, compared to the same period in 2025. On a same-store basis, admissions increased 0.7 percent and adjusted admissions increased 1.9 percent for the nine months ended September 30, 2026, compared to the same period in 2025.

Net loss attributable to Community Health Systems, Inc. stockholders was $(74) million, or $(0.55) per share (diluted), for the nine months ended September 30, 2026, compared to net income of $399 million, or $2.97 per share (diluted), for the same period in 2025. Excluding the adjusting items as presented in the table in footnote (e) on page 15, net loss attributable to Community Health Systems, Inc. stockholders was $(1.15) per share (diluted) for the nine months ended September 30, 2026, compared to net income of $1.20 per share (diluted) for the same period in 2025.

Adjusted EBITDA for the nine months ended September 30, 2026, was $918 million compared to $1.131 billion for the same period in 2025.

The difference in the amount of net loss attributable to Community Health Systems, Inc. stockholders for the nine months ended September 30, 2026, compared to the amount of net income for the same period in 2025, was primarily due to a period-over-period change in loss (gain) from early extinguishment of debt, an increase in the provision for (benefit from) income taxes and the factors that contributed to a decrease in Adjusted EBITDA as noted below, partially offset by lower interest expense. The decrease in Adjusted EBITDA for the nine months ended September 30, 2026, compared to the same period in 2025, is primarily attributable to divestitures, an unfavorable change in payor mix and higher medical specialist fees, partially offset by increased reimbursement rates, a higher net benefit from supplemental reimbursement programs, and lower contract labor expense.

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CYH Announces Third Quarter 2026 Results

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October 28, 2026

Other

During 2026, through the date of this press release, the Company has divested (i) its 80 percent ownership interest in one hospital, which was completed on February 1, 2026, and (ii) nine other hospitals (three of which were completed effective February 1, 2026, one of which was completed effective April 1, 2026, four of which were completed effective June 1, 2026, and one of which was completed effective October 1, 2026).

Financial and statistical data presented in this press release includes the operating results of divested or closed businesses for the periods prior to the consummation of the respective divestiture or closure. Same-store operating results and statistical information include operating results of businesses operated in the comparable current year and prior year periods, and exclude businesses divested prior to September 30, 2026.

Information About Non-GAAP Financial Measures

This press release presents Adjusted EBITDA, a non-GAAP financial measure, which is EBITDA adjusted to add back net income attributable to noncontrolling interests and to exclude loss (gain) from early extinguishment of debt, impairment and (gain) loss on sale of businesses, expense related to the Business Transformation Costs (as defined in footnote (c) to the Financial Highlights, Financial Statements and Selected Operating Data below), expense related to government and other legal matters and related costs, expense related to employee termination benefits and other restructuring charges, and the impact of a change in estimate to increase the professional liability claims accrual recorded during the third quarter of 2024. For information regarding why the Company believes Adjusted EBITDA provides useful information to investors, and for a reconciliation of Adjusted EBITDA to net (loss) income attributable to Community Health Systems, Inc. stockholders, see footnote (c) to the Financial Highlights, Financial Statements and Selected Operating Data below.

Additionally, this press release presents adjusted net (loss) income attributable to Community Health Systems, Inc. stockholders per share (diluted), a non-GAAP financial measure, to reflect the impact on net (loss) income attributable to Community Health Systems, Inc. stockholders per share (diluted) from the selected items used in the calculation of Adjusted EBITDA. For information regarding why the Company believes this non-GAAP financial measure provides useful information to investors, and for a reconciliation of this non-GAAP financial measure to net (loss) income attributable to Community Health Systems, Inc. stockholders per share (diluted), see footnote (e) to the Financial Highlights, Financial Statements and Selected Operating Data below.

The non-GAAP financial measures set forth above are not measurements of financial performance under U.S. GAAP, and should not be considered in isolation or as a substitute for any financial measure calculated in accordance with U.S. GAAP. Additionally, the calculation of these non-GAAP financial measures may not be comparable to similarly titled measures disclosed by other companies.

Included on pages 16 and 17 of this press release are tables setting forth the Company’s 2026 updated annual earnings guidance. The 2026 guidance is based on the Company’s historical operating performance, current trends and other assumptions the Company believes are reasonable at this time as more specifically discussed below.

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CYH Announces Third Quarter 2026 Results

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October 28, 2026

About Community Health Systems, Inc.

Community Health Systems, Inc. is one of the nation’s largest healthcare companies. The Company’s affiliates are leading providers of healthcare services, developing and operating healthcare delivery systems in 32 distinct markets across 12 states. As of October 28, 2026, the Company’s subsidiaries own or lease 59 affiliated hospitals with more than 8,000 beds and operate more than 800 sites of care, including physician practices, urgent care centers, freestanding emergency departments, occupational medicine clinics, imaging centers, cancer centers and ambulatory surgery centers.

The Company’s headquarters is located in Franklin, Tennessee, a suburb south of Nashville. Shares in Community Health Systems, Inc. are traded on the New York Stock Exchange under the symbol “CYH.” More information about the Company can be found on its website at www.chs.net.

Community Health Systems, Inc. will hold a conference call on Thursday, October 29, 2026, at 10:00 a.m. Central, 11:00 a.m. Eastern, to review financial and operating results for the third quarter ended September 30, 2026. Investors will have the opportunity to listen to a live internet broadcast of the conference call by clicking on the Investor Presentations and Webcasts link of the Company’s Investor Relations website at www.chs.net/investor-relations. For those who cannot listen to the live broadcast, a replay will be available shortly after the call and will continue to be available for approximately 30 days. Copies of this press release and conference call slide show, as well as the Company’s Current Report on Form 8-K (including this press release), will be available on the Company’s website at www.chs.net.

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CYH Announces Third Quarter 2026 Results

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October 28, 2026

COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES

Financial Highlights (a)(b)

(In millions, except per share amounts)

(Unaudited)

	Three Months Ended										Nine Months Ended
	September 30,										September 30,
	2026					2025					2026					2025
Net operating revenues	$		2,757			$		3,087			$		8,547			$		9,379
Net (loss) income (f)			(50	)				171					28					516
Net (loss) income attributable to Community    Health Systems, Inc. stockholders			(86	)				130					(74	)				399
Adjusted EBITDA (c)			280					376					918					1,131
Net cash provided by (used in)    operating activities			155					70					(55	)				277
(Loss) earnings per share attributable to    Community Health Systems, Inc.    stockholders:
Basic (f)	$		(0.63	)		$		0.97			$		(0.55	)		$		2.99
Diluted (e), (f)			(0.63	)				0.96					(0.55	)				2.97
Weighted-average number of shares    outstanding (d):
Basic			136					134					135					133
Diluted			136					135					135					135

For footnotes, see pages 13, 14 and 15.

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CYH Announces Third Quarter 2026 Results

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October 28, 2026

COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of (Loss) Income (a)(b)
(In millions, except per share amounts)
(Unaudited)
	Three Months Ended September 30,
	2026										2025
						% of Net										% of Net
						Operating										Operating
	Amount					Revenues					Amount					Revenues
Net operating revenues	$		2,757				100.0		%		$		3,087				100.0		%
Operating expenses:
Salaries and benefits			1,213				44.1		%				1,356				43.9		%
Supplies			407				14.8		%				460				14.9		%
Other operating expenses			809				29.3		%				832				26.9		%
Lease cost and rent			62				2.2		%				67				2.2		%
Depreciation and amortization			106				3.8		%				108				3.5		%
Impairment and (gain) loss on sale of businesses, net (f)			14				0.5		%				21				0.7		%
Total operating expenses			2,611				94.7		%				2,844				92.1		%
Income from operations (f)			146				5.3		%				243				7.9		%
Interest expense, net			201				7.3		%				216				7.0		%
Loss from early extinguishment of debt			-				-		%				33				1.1		%
Equity in earnings of unconsolidated affiliates			(2	)			(0.1	)	%				(4	)			(0.1	)	%
Loss before income taxes			(53	)			(1.9	)	%				(2	)			(0.1	)	%
Benefit from income taxes			(3	)			(0.1	)	%				(173	)			(5.6	)	%
Net (loss) income (f)			(50	)			(1.8	)	%				171				5.5		%
Less: Net income attributable to noncontrolling interests			36				1.3		%				41				1.3		%
Net (loss) income attributable to Community Health Systems,    Inc. stockholders	$		(86	)			(3.1	)	%		$		130				4.2		%
(Loss) earnings per share attributable to Community    Health Systems, Inc. stockholders:
Basic (f)	$		(0.63	)							$		0.97
Diluted (e), (f)	$		(0.63	)							$		0.96
Weighted-average number of shares outstanding (d):
Basic			136										134
Diluted			136										135

For footnotes, see pages 13, 14 and 15.

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CYH Announces Third Quarter 2026 Results

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October 28, 2026

COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of (Loss) Income (a)(b)

(In millions, except per share amounts)

(Unaudited)

	Nine Months Ended September 30,
	2026										2025
						% of Net										% of Net
						Operating										Operating
	Amount					Revenues					Amount					Revenues
Net operating revenues	$		8,547				100.0		%		$		9,379				100.0		%
Operating expenses:
Salaries and benefits			3,771				44.2		%				4,056				43.2		%
Supplies			1,249				14.6		%				1,418				15.1		%
Other operating expenses			2,437				28.5		%				2,583				27.6		%
Lease cost and rent			195				2.3		%				209				2.2		%
Depreciation and amortization			328				3.8		%				317				3.4		%
Impairment and (gain) loss on sale of businesses, net (f)			(248	)			(2.9	)	%				(242	)			(2.6	)	%
Total operating expenses			7,732				90.5		%				8,341				88.9		%
Income from operations (f)			815				9.5		%				1,038				11.1		%
Interest expense, net			620				7.3		%				649				6.9		%
Loss (gain) from early extinguishment of debt			12				0.1		%				(105	)			(1.1	)	%
Equity in earnings of unconsolidated affiliates			(8	)			(0.1	)	%				(9	)			(0.1	)	%
Income before income taxes			191				2.2		%				503				5.4		%
Provision for (benefit from) income taxes			163				1.9		%				(13	)			(0.1	)	%
Net income (f)			28				0.3		%				516				5.5		%
Less: Net income attributable to noncontrolling interests			102				1.2		%				117				1.2		%
Net (loss) income attributable to Community Health    Systems, Inc. stockholders	$		(74	)			(0.9	)	%		$		399				4.3		%
(Loss) earnings per share attributable to Community Health    Systems, Inc. stockholders:
Basic (f)	$		(0.55	)							$		2.99
Diluted (e), (f)	$		(0.55	)							$		2.97
Weighted-average number of shares outstanding (d):
Basic			135										133
Diluted			135										135

For footnotes, see pages 13, 14 and 15.

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CYH Announces Third Quarter 2026 Results

Page 8

October 28, 2026

COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Comprehensive (Loss) Income

(In millions)

(Unaudited)

	Three Months Ended										Nine Months Ended
	September 30,										September 30,
	2026					2025					2026					2025
Net (loss) income	$		(50	)		$		171			$		28			$		516
Other comprehensive (loss) income, net of    income taxes:
Net change in fair value of available-for-sale debt    securities, net of tax			(7	)				1					(9	)				5
Other comprehensive (loss) income			(7	)				1					(9	)				5
Comprehensive (loss) income			(57	)				172					19					521
Less: Comprehensive income attributable to    noncontrolling interests			36					41					102					117
Comprehensive (loss) income attributable to Community    Health Systems, Inc. stockholders	$		(93	)		$		131			$		(83	)		$		404

For footnotes, see pages 13, 14 and 15.

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CYH Announces Third Quarter 2026 Results

Page 9

October 28, 2026

COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES
Selected Operating Data (a)
(Dollars in millions)
(Unaudited)
		Three Months Ended September 30,
		Consolidated												Same-Store
		2026				2025				% Change				2026				2025				% Change
Number of hospitals (at end of period)			60				70								60				60
Licensed beds (at end of period)			8,872				10,478								8,872				8,844
Beds in service (at end of period)			7,674				8,983								7,674				7,646
Admissions			85,591				97,648				-12.3	%			85,591				83,708				2.2	%
Adjusted admissions			195,677				222,159				-11.9	%			195,694				188,929				3.6	%
Patient days			360,711				411,105								360,711				354,382
Average length of stay (days)			4.2				4.2								4.2				4.2
Occupancy rate (average beds in service)			51.1	%			49.7	%							51.1	%			50.4	%
Net operating revenues		$	2,757			$	3,087				-10.7	%		$	2,750			$	2,650				3.8	%
Net inpatient revenues as a % of net operating    revenues			47.8	%			47.5	%							47.8	%			47.6	%
Net outpatient revenues as a % of net operating    revenues			52.2	%			52.5	%							52.2	%			52.4	%
Income from operations (f)		$	146			$	243				-39.9	%
Income from operations as a % of net operating    revenues			5.3	%			7.9	%
Depreciation and amortization		$	106			$	108
Net (loss) income attributable to Community    Health Systems, Inc. stockholders		$	(86	)		$	130				-166.2	%
Net (loss) income attributable to Community    Health Systems, Inc. stockholders as a    % of net operating revenues			-3.1	%			4.2	%
Adjusted EBITDA (c)		$	280			$	376				-25.5	%
Adjusted EBITDA as a % of net    operating revenues			10.2	%			12.2	%
Net cash provided by operating activities		$	155			$	70				121.4	%

For footnotes, see pages 13, 14 and 15.

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CYH Announces Third Quarter 2026 Results

Page 10

October 28, 2026

COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES
Selected Operating Data (a)
(Dollars in millions)
(Unaudited)
		Nine Months Ended September 30,
		Consolidated												Same-Store
		2026				2025				% Change				2026				2025				% Change
Number of hospitals (at end of period)			60				70								60				60
Licensed beds (at end of period)			8,872				10,478								8,872				8,844
Beds in service (at end of period)			7,674				8,983								7,674				7,646
Admissions			266,828				301,487				-11.5	%			254,691				252,824				0.7	%
Adjusted admissions			598,982				675,915				-11.4	%			572,516				561,806				1.9	%
Patient days			1,136,465				1,294,824								1,084,410				1,093,871
Average length of stay (days)			4.3				4.3								4.3				4.3
Occupancy rate (average beds in service)			54.2	%			52.8	%							51.8	%			52.4	%
Net operating revenues		$	8,547			$	9,379				-8.9	%		$	8,190			$	7,956				2.9	%
Net inpatient revenues as a % of net    operating revenues			48.6	%			48.3	%							48.6	%			48.5	%
Net outpatient revenues as a % of net    operating revenues			51.4	%			51.7	%							51.4	%			51.5	%
Income from operations (f)		$	815			$	1,038				-21.5	%
Income from operations as a % of net    operating revenues			9.5	%			11.1	%
Depreciation and amortization		$	328			$	317
Net (loss) income attributable to     Community Health Systems, Inc.     stockholders		$	(74	)		$	399				-118.5	%
Net (loss) income attributable to    Community Health Systems, Inc.    stockholders as a % of net    operating revenues			-0.9	%			4.3	%
Adjusted EBITDA (c)		$	918			$	1,131				-18.8	%
Adjusted EBITDA as a % of net    operating revenues			10.7	%			12.1	%
Net cash (used in) provided by operating    activities		$	(55	)		$	277				-119.9	%

For footnotes, see pages 13, 14 and 15.

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CYH Announces Third Quarter 2026 Results

Page 11

October 28, 2026

COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(In millions, except share data)

(Unaudited)

		September 30, 2026					December 31, 2025
ASSETS
Current assets
Cash and cash equivalents		$		155			$		260
Patient accounts receivable				2,102					2,077
Supplies				268					322
Prepaid income taxes				-					13
Prepaid expenses				185					181
Other current assets				289					381
Total current assets				2,999					3,234
Property and equipment				8,170					8,912
Less accumulated depreciation and amortization				(3,934	)				(4,409	)
Property and equipment, net				4,236					4,503
Goodwill				3,233					3,316
Deferred income taxes				36					50
Other assets, net				1,604					2,101
Total assets		$		12,108			$		13,204
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities
Current maturities of long-term debt		$		18			$		16
Current operating lease liabilities				100					110
Accounts payable				831					842
Income tax payable				55					-
Accrued liabilities:
Employee compensation				431					569
Accrued interest				173					238
Other				413					433
Total current liabilities				2,021					2,208
Long-term debt (g)				9,568					10,380
Deferred income taxes				25					25
Long-term operating lease liabilities				523					537
Other long-term liabilities				908					891
Total liabilities				13,045					14,041
Redeemable noncontrolling interests in equity of consolidated subsidiaries				336					322
STOCKHOLDERS’ DEFICIT
Community Health Systems, Inc. stockholders’ deficit:
Preferred stock, $0.01 par value per share, 100,000,000 shares authorized; none issued				-					-
Common stock, $0.01 par value per share, 300,000,000 shares authorized; 140,999,408    shares issued and outstanding at September 30, 2026, and 138,626,917    shares issued and outstanding at December 31, 2025				1					1
Additional paid-in capital				2,169					2,185
Accumulated other comprehensive loss				(18	)				(9	)
Accumulated deficit				(3,644	)				(3,571	)
Total Community Health Systems, Inc. stockholders’ deficit				(1,492	)				(1,394	)
Noncontrolling interests in equity of consolidated subsidiaries				219					235
Total stockholders’ deficit				(1,273	)				(1,159	)
Total liabilities and stockholders’ deficit		$		12,108			$		13,204

For footnotes, see pages 13, 14 and 15.

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CYH Announces Third Quarter 2026 Results

Page 12

October 28, 2026

COMMUNITY HEALTH SYSTEMS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(In millions)

(Unaudited)

	Nine Months Ended September 30,
	2026					2025
Cash flows from operating activities
Net income	$		28			$		516
Adjustments to reconcile net income to net cash (used in) provided by    operating activities:
Depreciation and amortization			328					317
Deferred income taxes			14					(261	)
Stock-based compensation expense			7					7
Impairment and (gain) loss on sale of businesses, net (f)			(248	)				(242	)
Loss (gain) from early extinguishment of debt			12					(105	)
Other non-cash expenses, net			118					134
Changes in operating assets and liabilities, net of effects of
acquisitions and divestitures:
Patient accounts receivable			(113	)				75
Supplies, prepaid expenses and other current assets			40					5
Accounts payable, accrued liabilities and income taxes			(160	)				(86	)
Other			(81	)				(83	)
Net cash (used in) provided by operating activities			(55	)				277
Cash flows from investing activities
Acquisitions of facilities and other related businesses			(54	)				(1	)
Purchases of property and equipment			(239	)				(241	)
Proceeds from disposition of hospitals and other ancillary operations			1,210					1,012
Proceeds from sale of property and equipment			-					8
Purchases of available-for-sale debt securities and equity securities			(87	)				(107	)
Proceeds from sales of available-for-sale debt securities and equity securities			80					87
Purchases of investments in unconsolidated affiliates			(1	)				-
Increase in other investments			(15	)				(53	)
Net cash provided by investing activities			894					705
Cash flows from financing activities
Repurchase of restricted stock shares for payroll tax withholding requirements			(2	)				(2	)
Deferred financing costs and other debt-related costs			(8	)				(9	)
Proceeds from noncontrolling investors in joint ventures			1					2
Redemption of noncontrolling investments in joint ventures			-					(2	)
Distributions to noncontrolling investors in joint ventures			(129	)				(120	)
Other borrowings			38					16
Issuance of long-term debt			-					2,470
Proceeds from ABL Facility			1,307					3,021
Repayments of long-term indebtedness			(2,151	)				(6,272	)
Net cash used in financing activities			(944	)				(896	)
Net change in cash and cash equivalents			(105	)				86
Cash and cash equivalents at beginning of period			260					37
Cash and cash equivalents at end of period	$		155			$		123

For footnotes, see pages 13, 14 and 15.

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CYH Announces Third Quarter 2026 Results

Page 13

October 28, 2026

Footnotes to Financial Highlights, Financial Statements and Selected Operating Data

(a)Both financial and statistical results include the operating results of divested or closed businesses for the periods prior to the consummation of the respective divestiture or closing. Same-store operating results and statistical information include operating results of businesses operated in the comparable current year and prior year periods, and exclude businesses divested prior to September 30, 2026. There were no discontinued operations reported for the periods presented.

(b)The following table provides information needed to calculate net (loss) income attributable to Community Health Systems, Inc. stockholders, which is adjusted for income attributable to noncontrolling interests (in millions):

	Three Months Ended										Nine Months Ended
	September 30,										September 30,
	2026					2025					2026					2025
Net (loss) income attributable to Community Health Systems,    Inc. stockholders:
Net (loss) income	$		(50	)		$		171			$		28			$		516
Less: Income attributable to noncontrolling interests			36					41					102					117
Net (loss) income attributable to Community Health Systems, Inc.    stockholders — basic and diluted	$		(86	)		$		130			$		(74	)		$		399

(c)EBITDA is a non-GAAP financial measure which consists of net (loss) income attributable to Community Health Systems, Inc. stockholders before interest, income taxes, and depreciation and amortization. Adjusted EBITDA, also a non-GAAP financial measure, is EBITDA adjusted to add back net income attributable to noncontrolling interests and to exclude loss (gain) from early extinguishment of debt, impairment and (gain) loss on sale of businesses, expense from third-party consulting costs associated with significant process and systems redesign across multiple functions (the “Business Transformation Costs”) as part of the Company’s previously disclosed multi-year initiative to modernize and consolidate technology platforms and associated processes, expense related to government and other legal matters and related costs, expense related to employee termination benefits and other restructuring charges, and the impact of a change in estimate to increase the professional liability claims accrual recorded during the third quarter of 2024. The Company has from time to time sold noncontrolling interests in certain of its subsidiaries or acquired subsidiaries with existing noncontrolling interest ownership positions. The Company believes that it is useful to present Adjusted EBITDA because it adds back the portion of EBITDA attributable to these third-party interests. The Company reports Adjusted EBITDA as a measure of financial performance. Adjusted EBITDA is a key measure used by management to assess the operating performance of the Company’s hospital operations and to make decisions on the allocation of resources. Adjusted EBITDA is also used to evaluate the performance of the Company’s executive management team and is one of the primary metrics used in connection with determining short-term cash incentive compensation and the achievement of vesting criteria with respect to performance-based equity awards. In addition, management utilizes Adjusted EBITDA in assessing the Company’s consolidated results of operations and operational performance and in comparing the Company’s results of operations between periods. The Company believes it is useful to provide investors and other users of the Company’s financial statements this performance measure to align with how management assesses the Company’s results of operations. Adjusted EBITDA also is comparable to a similar metric called Consolidated EBITDA, as defined in the Company’s asset-based loan facility (the “ABL Facility”) and the Company’s existing note indentures, which is a key component in the determination of the Company’s compliance with certain covenants under the ABL Facility and such note indentures (including the Company’s ability to service debt and incur capital expenditures), and is used to determine the interest rate and commitment fee payable under the ABL Facility (although Adjusted EBITDA does not include all of the adjustments described in the ABL Facility). Adjusted EBITDA includes the Adjusted EBITDA attributable to hospitals that were divested during the course of such year, but in each case solely to the extent relating to the period prior to the consummation of the applicable divestiture.

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CYH Announces Third Quarter 2026 Results

Page 14

October 28, 2026

Footnotes to Financial Highlights, Financial Statements and Selected Operating Data (Continued)

Adjusted EBITDA is not a measurement of financial performance under U.S. GAAP. It should not be considered in isolation or as a substitute for net (loss) income, operating income, or any other performance measure calculated in accordance with U.S. GAAP. The items excluded from Adjusted EBITDA are significant components in understanding and evaluating financial performance. The Company believes such adjustments are appropriate as the magnitude and frequency of such items can vary significantly and are not related to the assessment of normal operating performance. Additionally, this calculation of Adjusted EBITDA may not be comparable to similarly titled measures disclosed by other companies.

The following table reflects the reconciliation of Adjusted EBITDA, as defined, to net (loss) income attributable to Community Health Systems, Inc. stockholders from the Company’s condensed consolidated financial statements (in millions):

	Three Months Ended												Nine Months Ended
	September 30,												September 30,
	2026					2025							2026					2025
Net (loss) income attributable to Community Health
Systems, Inc. stockholders	$		(86	)		$		130					$		(74	)		$		399
Adjustments:
(Benefit from) provision for income taxes			(3	)				(173	)						163					(13	)
Depreciation and amortization			106					108							328					317
Net income attributable to noncontrolling interests			36					41							102					117
Interest expense, net			201					216							620					649
Loss (gain) from early extinguishment of debt			-					33							12					(105	)
Impairment and (gain) loss on sale of businesses, net			14					21							(248	)				(242	)
Expense from government and other legal matters    and related costs			12					-							12					-
Expense related to employee termination benefits    and other restructuring charges			-					-							3					-
Expense from business transformation costs			-					-							-					9
Adjusted EBITDA	$		280			$		376					$		918			$		1,131

(d)The following table sets forth components reconciling the basic weighted-average number of shares to the diluted weighted-average number of shares (in millions):

	Three Months Ended									Nine Months Ended
	September 30,									September 30,
	2026				2025					2026				2025
Weighted-average number of shares outstanding - basic		136				134					135				133
Add effect of dilutive securities:
Stock awards and options		-				1					-				2
Weighted-average number of shares outstanding - diluted		136				135					135				135

The Company generated a net loss attributable to Community Health Systems, Inc. stockholders for the three and nine months ended September 30, 2026, so the effect of dilutive securities is not considered because their effect would be antidilutive. If the Company generated net income for these periods, the effect of stock awards and options on the diluted shares calculation would have been an increase of 1,590,455 shares and 1,139,106 shares during the three and nine months ended September 30, 2026, respectively.

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CYH Announces Third Quarter 2026 Results

Page 15

October 28, 2026

Footnotes to Financial Highlights, Financial Statements and Selected Operating Data (Continued)

(e)The following supplemental table reconciles net (loss) income attributable to Community Health Systems, Inc. stockholders, as reported, on a per share (diluted) basis, to net (loss) income attributable to Community Health Systems, Inc. stockholders per share (diluted) with the adjustments described herein (total per share amounts may not add due to rounding). The Company believes that the presentation of non-GAAP adjusted net (loss) income attributable to Community Health Systems, Inc. stockholders per share (diluted) presents useful information to investors by highlighting the impact on net (loss) income attributable to Community Health Systems, Inc. stockholders per share (diluted) of selected items used in calculating Adjusted EBITDA which may not reflect the Company’s underlying operating performance and assisting in comparing the Company’s results of operations between periods.

	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2026				2025				2026				2025
Net (loss) income per share (diluted), as reported	$	(0.63	)		$	0.96			$	(0.55	)		$	2.97
Adjustments:
Loss (gain) from early extinguishment of debt		-				0.19				0.08				(0.84	)
Impairment and (gain) loss on sale of businesses, net		0.08				0.12				(0.77	)			(0.98	)
Expense from government and other legal matters and    related costs		0.07				-				0.07				-
Expense related to employee termination benefits    and other restructuring charges		-				-				0.02				-
Expense from business transformation costs		-				-				-				0.05
Net (loss) income per share (diluted), excluding adjustments	$	(0.48	)		$	1.27			$	(1.15	)		$	1.20

(f)Both income from operations and net (loss) income included net non-cash expense of $14 million and $21 million for the three months ended September 30, 2026 and 2025, respectively, and net non-cash income of $248 million and $242 million for the nine months ended September 30, 2026 and 2025, respectively. The net non-cash income for the nine months ended September 30, 2026 was comprised of a gain on the divestiture of one hospital and the divestiture of a controlling interest in another hospital, partially offset by a net impairment charge to adjust the carrying value of long-lived assets at hospitals that were divested at a sales price below carrying value, and an impairment charge recorded to reduce the carrying value of several assets that were idled, disposed or held-for-sale. The net non-cash income for the nine months ended September 30, 2025 was comprised of a gain related to the divestiture of four hospitals, partially offset by (i) an impairment charge to adjust the carrying value of long-lived assets at two hospitals that were divested at a price below carrying value, and (ii) an impairment charge recorded to reduce the carrying value of several assets that were idled or disposed. These gains, losses and impairment charges do not have an impact on the calculation of the Company’s financial covenants under the ABL Facility.

(g)The maximum aggregate principal amount under the ABL Facility is $1.0 billion, subject to borrowing base capacity. At September 30, 2026, the Company had no outstanding borrowings and approximately $745 million of additional borrowing capacity (after taking into consideration $32 million of outstanding letters of credit) under the ABL Facility.

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CYH Announces Third Quarter 2026 Results

Page 16

October 28, 2026

Regulation FD Disclosure

Set forth below is selected information concerning the Company’s projected consolidated operating results for the year ending December 31, 2026. These projections update selected guidance provided on July 22, 2026 and are based on the Company’s historical operating performance, current trends and other assumptions that the Company believes are reasonable at this time. This 2026 guidance should be considered in conjunction with the assumptions included herein. See pages 18, 19 and 20 for a list of factors that could affect the future results of the Company or the healthcare industry generally. The following is provided as guidance to analysts and investors:

	2026 Projection Range
Net operating revenues (in millions)	$		11,300				to		$		11,500
Adjusted EBITDA (in millions)	$		1,225				to		$		1,275
Net loss per share - diluted	$		(1.70	)			to		$		(1.60	)
Weighted-average diluted shares (in millions)			136				to				136

The following assumptions were used in developing the 2026 guidance provided above:

•The Company’s projections exclude the effect on net operating revenues, Adjusted EBITDA and net loss per share (diluted) of the following:

•

•The impact of any future divestitures for which definitive agreement(s) have not yet been executed;

•Effect of debt refinancing activities, including gains and losses from early extinguishment of debt;

•Potential grants received from the Rural Health Transformation Program;

•Impairment of goodwill and long-lived assets;

•Gains or losses and the associated tax impacts resulting from the sales of businesses;

•Employee termination benefits and restructuring costs;

•Resolution of government investigations or other significant legal settlements;

•Costs incurred in connection with divestitures; and

•Other significant gains or losses that neither relate to the ordinary course of business nor reflect the Company’s underlying business performance.

Other assumptions used in the above guidance:

•Expressed as a percentage of net operating revenues, depreciation and amortization of approximately 3.8% to 3.9% for 2026. Additionally, this is a fixed cost and the percentages may vary based on changes in net operating revenues. Such amounts exclude the possible impact of any future hospital fixed asset impairments.

•Interest expense is estimated to be between $820 million and $830 million while cash paid for interest, which excludes the amortization of deferred financing costs, is expected to be between $800 million and $810 million. Total fixed rate debt is expected to average approximately 98% of total debt during 2026.

•Expressed as a percentage of net operating revenues, net income attributable to noncontrolling interests of approximately 1.2% to 1.3% for 2026.

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CYH Announces Third Quarter 2026 Results

Page 17

October 28, 2026

•Expressed as a percentage of net operating revenues, provision for income taxes of approximately 0.8% to 0.9% for 2026.

A reconciliation of the Company’s projected 2026 Adjusted EBITDA, a forward-looking non-GAAP financial measure, to the Company’s projected net loss attributable to Community Health Systems, Inc. stockholders, the most directly comparable GAAP financial measure, is shown below (in millions):

	Year Ending
	December 31, 2026
	Low					High
Net loss attributable to Community Health Systems, Inc.
stockholders (1)	$		(231	)		$		(217	)
Adjustments:
Depreciation and amortization			430					440
Interest expense, net			820					830
Provision for income taxes			71					77
Net income attributable to noncontrolling interests			135					145
Adjusted EBITDA (1)	$		1,225			$		1,275

(1) The Company does not include in this reconciliation the impact of certain items not included in the Company’s forecast set forth above that would be included in a reconciliation of historical net loss attributable to Community Health Systems, Inc. stockholders to Adjusted EBITDA such as, but not limited to, losses (gains) from early extinguishment of debt and impairment and (gain) loss on sale of businesses, in light of the fact that such items are not determinable, and/or the inherent difficulty in quantifying such projected amounts, on a forward-looking basis.

•Capital expenditures are projected as follows (in millions):

	2026
	Guidance
Total	$	350			to		$	400

•Net cash provided by operating activities, including $10 million to $20 million of estimated cash payments for income taxes, net of refunds and excluding cash taxes on the sales of businesses, are projected as follows (in millions):

	2026
	Guidance
Total	$	100			to		$	300

•Diluted weighted-average shares outstanding are projected to be approximately 136 million for 2026.

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CYH Announces Third Quarter 2026 Results

Page 18

October 28, 2026

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. All statements in this press release other than statements of historical fact, including statements regarding projections, expected operating results, and other events that depend upon or refer to future events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “thinks,” and similar expressions, are forward-looking statements. Although the Company believes that these forward-looking statements are based on reasonable assumptions, these assumptions are inherently subject to significant regulatory, economic and competitive uncertainties and contingencies, which are difficult or impossible to predict accurately and may be beyond the control of the Company. Accordingly, the Company cannot give any assurance that its expectations will in fact occur and cautions that actual results may differ materially from those in the forward-looking statements. A number of factors could affect the future results of the Company or the healthcare industry generally and could cause the Company’s expected results to differ materially from those expressed in this press release.

These factors include, among other things:

•general economic and business conditions, both nationally and in the regions in which we operate, including the impact of challenging macroeconomic conditions and inflationary pressures, the current interest rate environment, current geopolitical instability (including as a result of ongoing geopolitical conflicts), impacts from the imposition of, or changes in tariffs, as well as the impact on us of financial, credit, capital, political, and legislative conditions, including any federal government shutdowns;

•the impact of current and future healthcare public policy developments and the implementation of new, and possible changes to existing, federal, state or local laws, regulations and policies affecting the healthcare industry, including changes affecting the structure of or funding for the Medicare and Medicaid programs and changes in the structure and administration of federal and state agencies and programs;

•changes by the federal and state governments to state Medicaid programs, including the extent and nature of structural and funding changes and manner in which any such changes are implemented, and other developments that affect the administration of health insurance exchanges or alter or reduce the provision of, or payment for, healthcare to state residents through legislation, regulation or otherwise;

•changes related to health insurance enrollment, including those affecting the beneficiary enrollment process and the stability of health insurance exchanges, and the expiration of the temporarily enhanced subsidies available for individuals to purchase coverage through Affordable Care Act marketplaces;

•risks associated with our substantial indebtedness, leverage and debt service obligations, including our ability to refinance such indebtedness on acceptable terms or to incur additional indebtedness, and our ability to remain in compliance with debt covenants;

•demographic changes;

•changes in, or the failure to comply with, federal, state or local laws or governmental regulations affecting our business;

•judicial developments impacting the Company or the healthcare industry, including the potential impact of the recent decisions of the U.S. Supreme Court regarding the actions of federal agencies;

•the potential adverse impact of known and unknown legal, regulatory and governmental proceedings and other loss contingencies, including governmental investigations and audits, and federal and state false claims act litigation;

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•our ability to enter into and maintain provider arrangements with payors and the terms of these arrangements, which may be further affected by the increasing consolidation of health insurers and managed care companies and vertical integration efforts involving payors and healthcare providers;

•changes in, or the failure to comply with, contract terms with payors and changes in reimbursement policies, methodologies or rates paid by federal or state healthcare programs or commercial payors;

•security breaches, cyber-attacks, loss of data, other cybersecurity threats or incidents, including those experienced with respect to our information systems or the information systems of third parties with whom we conduct business, and any actual or perceived failures to comply with legal requirements governing the privacy and security of health information or other regulated, sensitive or confidential information, or legal requirements regarding data privacy or data protection;

•the development, adoption and use of emerging technologies, including artificial intelligence and machine learning;

•any potential impairments in the carrying value of goodwill, other intangible assets, or other long-lived assets, or changes in the useful lives of other intangible assets;

•the effects related to the sequestration spending reductions pursuant to the Budget Control Act of 2011 and the potential for spending reductions under future legislation, including as may be required under the Pay-As-You-Go Act of 2010;

•increases in the amount and risk of collectability of patient accounts receivable, including decreases in collectability which may result from, among other things, self-pay growth and difficulties in recovering payments for which patients are responsible, including co-pays and deductibles;

•the efforts of insurers, healthcare providers, large employer groups and others to contain healthcare costs, including the trend toward value-based purchasing and increased reimbursement denials by insurers;

•the impact of competitive labor market conditions, including in connection with our ability to hire and retain qualified nurses, physicians, other medical personnel and key management, and increased labor expenses arising from inflation and/or competition for such positions;

•the inability of third parties with whom we contract to provide hospital-based physicians and the effectiveness of our efforts to mitigate such non-performance including through acquisitions of outsourced medical specialist businesses, engagement with new or replacement providers, employment of physicians and re-negotiation or assumption of existing contracts;

•any failure to obtain medical supplies or pharmaceuticals at favorable prices;

•liabilities and other claims asserted against us, including self-insured professional liability claims;

•competition;

•trends toward treatment of patients in less acute or specialty healthcare settings, including ambulatory surgery centers or specialty hospitals or via telehealth;

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•changes in medical or other technology;

•changes in U.S. GAAP;

•the availability and terms of capital to fund any additional acquisitions or replacement facilities or other capital expenditures;

•our ability to successfully make acquisitions or complete divestitures, our ability to complete any such acquisitions or divestitures on desired terms or at all, the timing of the completion of any such acquisitions or divestitures, and our ability to realize the intended benefits from any such acquisitions or divestitures;

•the impact that changes in our relationships with joint venture or syndication partners could have on effectively operating our hospitals or ancillary services or in advancing strategic opportunities;

•our ability to successfully integrate any acquired hospitals and/or outpatient facilities, or to realize expected benefits from acquisitions such as increased growth in patient service revenues;

•the impact of severe weather conditions and climate change, as well as the timing and amount of insurance recoveries in relation to severe weather events;

•our ability to obtain adequate levels of insurance, including general liability, professional liability, cyber liability and directors’ and officers’ liability insurance;

•any lapse in appropriations, and any hold on or cancellation of congressionally authorized spending or interruptions in the distribution of government funds, and the timeliness of reimbursement payments received under government programs;

•effects related to pandemics, epidemics, outbreaks of infectious diseases or other public health crises;

•any failure to comply with our obligations under license or technology agreements;

•challenging economic conditions in non-urban communities in which we operate;

•the concentration of our revenue in a small number of states;

•our ability to realize anticipated cost savings and other benefits from our current strategic and operational cost savings initiatives;

•any changes in or interpretations of income tax laws and regulations; and

•the risk factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (the “SEC”) on February 19, 2026 and other public filings with the SEC.

The consolidated operating results for the three and nine months ended September 30, 2026, are not necessarily indicative of the results that may be experienced for any future periods. The Company cautions that the projections for calendar year 2026 set forth in this press release are given as of the date hereof based on currently available information. The Company undertakes no obligation to revise or update any forward-looking statements (including such guidance), or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

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