Every 8-K that Community Health Systems, Inc. (CYH) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow CYH and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CYH filings page.
Community Health Systems, Inc. reported Q2 2026 net operating revenues of $2.825 billion, a 9.8 percent decrease from $3.133 billion a year earlier, while same‑store revenues rose 2.4 percent. Net income attributable to stockholders was $70 million, or $0.51 per diluted share, versus $282 million, or $2.09, and Adjusted EBITDA declined to $330 million from $380 million. Same‑store admissions increased 1.9 percent and adjusted admissions 2.9 percent, but consolidated volumes fell due to hospital divestitures.
For the first six months of 2026, net operating revenues were $5.790 billion, compared with $6.292 billion in 2025, and net income attributable to stockholders dropped to $12 million from $269 million. Six‑month Adjusted EBITDA was $638 million, down from $756 million. Earnings were affected by changes in loss (gain) from early extinguishment of debt, the impact of divestitures, an unfavorable payor mix and higher medical specialist fees, partly offset by increased reimbursement rates, supplemental reimbursement benefits and lower contract labor and professional liability expenses. Net cash from operating activities was $87 million in Q2 and a $209 million use of cash year‑to‑date.
The company used approximately $600 million of divestiture proceeds to repurchase $368 million principal of 4.750% Senior Secured Notes due 2031 and $231 million principal of 10.875% Senior Secured Notes due 2032. For 2026, guidance calls for net operating revenues of $11.4–$11.6 billion, Adjusted EBITDA of $1.300–$1.375 billion and a diluted net loss per share between $(1.25) and $(1.10), with capital expenditures of $350–$400 million and net cash from operating activities of $300–$500 million.
Community Health Systems completed the sale of substantially all assets of four Arkansas hospitals and related outpatient centers to Freeman Health System for $110 million in cash, before certain transaction expenses and subject to a working capital adjustment.
The transaction covers Northwest Medical Center – Bentonville, Northwest Medical Center – Springdale, Northwest Medical Center – Willow Creek Women’s Hospital, and Siloam Springs Regional Hospital. Pro forma 2025 basic earnings per share decline from $3.81 to $3.53, reflecting an estimated $55 million pre-tax loss ($48 million after tax) on the sale and removal of the divested operations from historical results.
Community Health Systems, Inc. reported the results of its annual stockholder meeting held on May 12, 2026. Stockholders elected 14 directors to serve until the 2027 annual meeting, with each nominee receiving more votes "for" than "against," and substantial broker non-votes recorded on the director items.
Investors also approved a non-binding advisory resolution on executive compensation, with 81,701,049 votes for, 1,814,301 against, and 540,013 abstentions, alongside 27,004,521 broker non-votes. In addition, stockholders ratified Deloitte & Touche LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, by a wide margin.
Community Health Systems, Inc. is moving ahead with a cash tender offer of up to $600,000,000 to repurchase certain senior secured notes through its subsidiary. The company reached its aggregate maximum purchase amount after strong early participation from holders of its 4.750% notes due 2031 and 10.875% notes due 2032.
As of the early tender date, a large majority of the 2031 Notes and a significant portion of the 2032 Notes were tendered, leading to proration and acceptance of specific principal amounts for settlement on an expected early settlement date of May 7, 2026. Notes tendered after the early tender date will not be accepted unless the issuer changes the offer terms.
Community Health Systems is launching a cash tender offer through its wholly owned subsidiary to buy back up to $600,000,000 aggregate purchase price of its outstanding senior secured notes. The offer covers its 4.750% notes due 2031, capped at $350,000,000, and its 10.875% notes due 2032, capped at $250,000,000.
Holders who tender by the May 5, 2026 early tender date are eligible for an extra $50.00 per $1,000 principal, giving total consideration of $950.00 for the 2031 notes and $1,082.50 for the 2032 notes. The offer expires on May 20, 2026 and will be funded with cash on hand, with acceptances based on priority levels, caps and possible proration.
Community Health Systems, Inc. reported weaker results for the quarter ended March 31, 2026. Net operating revenues were $2.965 billion, down 6.1% from $3.159 billion a year earlier, as total admissions fell 10.8% and adjusted admissions declined 10.5%.
The company recorded a net loss attributable to stockholders of $58 million, or $(0.43) per diluted share, compared with a loss of $13 million, or $(0.10) per share, in 2025. On an adjusted basis, net loss per diluted share was $(0.48) versus $(0.03) a year earlier. Adjusted EBITDA declined to $309 million from $376 million.
Operating cash flow turned negative, with net cash used in operating activities of $297 million versus $120 million provided in the prior year period. The company redeemed approximately $223 million of 10.875% Senior Secured Notes due 2032 and continued its divestiture program, selling several hospitals and signing a $112 million asset sale agreement in Arkansas, while reaffirming its 2026 annual earnings guidance.
Community Health Systems, Inc. has completed the sale of substantially all assets of the 180-bed Crestwood Medical Center in Huntsville, Alabama, and related outpatient sites to Huntsville Hospital Health System for $459 million in cash, before certain transaction expenses and subject to a working capital adjustment. The company estimates a pre-tax gain of $185 million, or $138 million after tax, on the divestiture. Pro forma for the sale, 2025 net operating revenues decrease from $12,485 million to $12,158 million, and the net loss attributable to stockholders widens from $509 million to $610 million, reflecting removal of Crestwood’s results and the gain on sale flowing through accumulated deficit rather than recurring income.
Community Health Systems, Inc. entered into a definitive asset purchase agreement for a subsidiary to sell substantially all assets and certain liabilities of four Arkansas hospitals and related outpatient centers and practices to Freeman Health System. The facilities include 128-bed Northwest Medical Center – Bentonville, 222-bed Northwest Medical Center – Springdale, 64-bed Northwest Medical Center – Willow Creek Women’s Hospital, and 73-bed Siloam Springs Regional Hospital.
The total purchase price is $112 million, subject to adjustments based on closing net working capital and the amount of finance leases assumed by the buyer. Closing is expected in the second quarter of 2026, subject to customary regulatory approvals and other closing conditions, and the agreement can be terminated if the transaction is not completed on or before August 1, 2026. At closing, the parties expect to enter transition services agreements so CHS can provide information technology and operational support for a period of time. The company notes these hospitals were among potential divestitures previously discussed in its 2025 year-end communications.
Community Health Systems, Inc. reported a sharp turnaround for 2025, moving to net income attributable to stockholders of $509 million or $3.77 per diluted share from a loss of $(516) million or $(3.90) in 2024. Full-year net operating revenues slipped 1.2% to $12.485 billion, but same-store revenue rose 4.6%, showing growth in the ongoing portfolio.
Adjusted EBITDA for 2025 was broadly flat at $1.526 billion, while net cash from operating activities increased to $543 million. Results benefited significantly from $406 million of net non-cash gains on divestitures and asset sales. The company executed a major portfolio reshaping, selling multiple hospitals and its lab outreach business, and received $1.254 billion of hospital and ancillary sale proceeds.
Leverage improved as $445 million of 10.875% senior secured notes due 2032 and all $14 million of 5.625% notes due 2027 were redeemed, helping reduce long-term debt to $10.380 billion. For 2026, management guides to net operating revenues of $11.6–$12.0 billion, Adjusted EBITDA of $1.34–$1.49 billion, and diluted EPS between $(0.60) and $0.00, reflecting expected pressure from divestitures and interest expense.
Community Health Systems, Inc. approved 2026 compensation packages for three top executives, including CEO Kevin J. Hammons, CFO Jason K. Johnson and EVP Kevin A. Stockton. Base salaries were set at $1,250,000 for Hammons, $630,000 for Johnson and $740,000 for Stockton.
The Board also set annual cash incentive targets as percentages of salary, with Hammons at 215%, Johnson at 115% and Stockton at 95%, plus additional upside for non-financial improvements and overachievement of goals. Long-term incentives include stock options, time-vesting restricted stock and performance-based restricted stock granted on March 1, 2026, with performance awards measured over 2026–2028 and vesting outcomes ranging from 0% to 200% of target.
Community Health Systems, Inc. completed the sale of its CHS subsidiary’s 80% ownership interest in joint ventures that own and operate Tennova Healthcare – Clarksville and related ancillary businesses to Vanderbilt University Medical Center and its affiliates. The CHS selling entity received $623 million in cash, subject to a post-closing working capital adjustment. Separately, CHS subsidiaries paid approximately $23 million in cash to the purchaser to settle the purchaser’s share of amounts owed to the joint ventures by CHS. The company classified this as a significant disposition and filed unaudited pro forma condensed consolidated financial statements to show the impact of the transaction.
Community Health Systems, Inc. has agreed to sell Crestwood Medical Center in Huntsville, Alabama, and related businesses through an asset purchase agreement between its wholly owned subsidiary CHS/Community Health Systems, Inc. and The Health Care Authority of the City of Huntsville, doing business as Huntsville Hospital Health System.
The purchaser will pay a total purchase price of $450 million at closing, subject to adjustments for net working capital and any finance leases it assumes. The parties have exchanged detailed representations, warranties, covenants and indemnification obligations, and closing is subject to specified conditions, with completion currently expected in the second quarter of 2026. The agreement may be terminated by either party in certain situations, including if the transaction is not completed on or before June 1, 2026, and the parties plan to enter transition services agreements so CHS can provide information technology and operational support for a period after closing.
Community Health Systems, Inc. announced a series of leadership appointments. Kevin J. Hammons, previously President and Interim Chief Executive Officer, has been appointed Chief Executive Officer and also joins the Board of Directors, with his board term running until the 2026 Annual Meeting of Stockholders. As a management director, he will not receive additional board compensation.
Jason K. Johnson, formerly Senior Vice President, Chief Accounting Officer and Interim Chief Financial Officer, has been appointed Executive Vice President and Chief Financial Officer and will continue as Chief Accounting Officer until January 1, 2026. Effective that date, Phillip A. Posey, currently Vice President, Accounting and Financial Reporting, will become Senior Vice President and Chief Accounting Officer and the company’s principal accounting officer. All three executives were already serving in key roles, and there are no new specific compensation arrangements disclosed in connection with these appointments.
Community Health Systems, Inc. completed a significant asset sale of its ambulatory outreach business across 13 states. On December 1, 2025, its wholly owned subsidiary, CHS/Community Health Systems, Inc., closed an asset purchase agreement with Laboratory Corporation of America Holdings, under which the buyer acquired select assets and assumed certain leases related to patient service centers and in-office phlebotomy locations.
The company received approximately $194 million in cash, before transaction expenses, as the purchase price. Because this transaction is considered a significant disposition, Community Health Systems is providing unaudited pro forma condensed consolidated financial statements, including pro forma income statements for the nine months ended September 30, 2025 and the year ended December 31, 2024, and a pro forma balance sheet as of September 30, 2025.
Community Health Systems (CYH) entered a material definitive agreement to sell its 80% interests in two Clarksville, Tennessee joint ventures (including Tennova Healthcare - Clarksville) to Vanderbilt University Medical Center and its subsidiaries. The purchase price is $600 million, payable at closing and subject to adjustments for closing net working capital and amounts due to the joint ventures from CHS.
The buyer already holds minority stakes and will acquire the remaining interests through this transaction. Closing is expected in early 2026, subject to regulatory approvals and other closing conditions. Either party may terminate if the deal is not consummated by December 31, 2026. At closing, the parties plan to enter into transition services agreements for information technology and operational support.
A press release announcing the agreement was issued the same day and filed as an exhibit. The agreement includes customary representations, warranties, covenants, and indemnification provisions.
Community Health Systems (CYH) furnished an update via an 8-K announcing operating results for the third quarter ended September 30, 2025. The company also provided updated 2025 annual earnings guidance in a press release attached as Exhibit 99.1.
The guidance reflects the company’s historical operating performance, current trends and other assumptions outlined in the press release on pages 16–20. The information in this report (including the exhibit) is deemed furnished, not filed.
Community Health Systems, Inc. reported that its wholly owned subsidiary CHSPSC, LLC entered into a consultancy agreement with retiring Chief Executive Officer Tim L. Hingtgen. Effective after his retirement as director and executive officer on September 30, 2025, Mr. Hingtgen will serve as a consultant from October 1, 2025 through September 30, 2026, advising the management team on healthcare operations, strategy, and other assignments as requested by Interim Chief Executive Officer Kevin J. Hammons or his designee. Under the agreement, Mr. Hingtgen will receive consulting fees of $33,333.33 per month and will be subject to restrictions on competition, solicitation, and conflicts of interest with CHSPSC, LLC or its affiliates. The full consulting agreement is filed as Exhibit 10.1.
Community Health Systems, Inc. announced leadership transitions effective October 1, 2025. Kevin J. Hammons, currently President and Chief Financial Officer, will become Interim Chief Executive Officer and serve as principal executive officer following the retirement of CEO Tim L. Hingtgen on September 30, 2025. Jason K. Johnson, currently Senior Vice President and Chief Accounting Officer, will become Interim Chief Financial Officer and continue as principal accounting officer.
The Board also approved higher 2025 base salaries starting October 1, 2025, increasing Mr. Hammons’ annualized base salary to $1,250,000 and Mr. Johnson’s to $630,000. For October 1 through December 31, 2025, their cash incentive targets under the 2019 Employee Performance Incentive Plan are 215% of base salary for Mr. Hammons and 115% for Mr. Johnson, with potential additional percentages for non‑financial performance improvements and overachievement of goals. Bonus terms for January 1 through September 30, 2025 remain unchanged.
On August 12, 2025, CHS/Community Health Systems, Inc. completed an offering of $1,790,000,000 aggregate principal amount of 9.750% Senior Secured Notes due 2034 under an indenture dated August 12, 2025. The Notes pay interest at 9.750% per year, payable semi-annually on March 15 and September 15 beginning March 15, 2026, and mature on January 15, 2034.
The Notes are unconditionally guaranteed on a senior-priority secured basis by the Company and specified domestic subsidiaries and are secured by first-priority liens on Non-ABL Priority Collateral and second-priority liens on ABL-Priority Collateral. The Notes are subject to three intercreditor agreements that limit actions by the Collateral Agent and the Indenture contains covenants restricting new indebtedness, dividends, certain investments, liens, asset sales, transfers of assets and certain affiliate transactions, as well as customary events of default.
The Issuer used the net proceeds of the Notes Offering, together with cash on hand, to repurchase $1,735,362,000 aggregate principal amount of its 5.625% Senior Secured Notes due 2027 that were validly tendered by the early tender deadline, leaving $21,638,000 of 2027 Notes outstanding; the Issuer intends to refinance the remainder through the Tender Offer or a redemption.