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![COMMUNITY HEALTH SYSTEMS INC [CYH] reports annual net loss of $16.0 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FCYH.png&w=1200&q=75)
COMMUNITY HEALTH SYSTEMS INC [CYH] has reported a net loss of $16.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $12.5 billion
Based in FRANKLIN, Tennessee, COMMUNITY HEALTH SYSTEMS INC operates in the SERVICES sector.
Consolidated Statements of (Loss) Income - USD ($) in Millions 12 Months Ended
Comparing the annual financial results for the period ended December 31, 2023, with the same period in 2022 and 2021, the following key figures were noted:
- Net operating revenues for the year 2023 were $12.49 billion, which showed a slight increase compared to $12.21 billion in 2022 and $12.37 billion in 2021.
- Total operating costs and expenses in 2023 amounted to $11.53 billion, higher than $11.39 billion in 2022 and $10.97 billion in 2021. This increase was mainly driven by escalating salaries and benefits, supplies, and other operating expenses.
- Income from operations for 2023 reached $957 million, up from $821 million in 2022 but significantly lower than $1.40 billion in 2021.
- The (loss) income before income taxes in 2023 was $207 million, a decrease from $349 million in 2022 and $499 million in 2021.
- Net income for the year 2023 was $16 million, a significant decline compared to $179 million in 2022 and $368 million in 2021.
- Net (loss) income attributable to Community Health Systems, Inc. stockholders was $(133) million in 2023, a decrease from $46 million in 2022 and $230 million in 2021.
- The (loss) earnings per share attributable to Community Health Systems, Inc. stockholders for basic and diluted amounts in 2023 were $(1.02), which were lower than the positive figures of $0.35 in 2022 and $1.82 in 2021.
In summary, while the company experienced a decrease in net income and earnings per share in 2023 compared to the previous years, it also faced challenges in its operating costs and expenses. These figures indicate a tough year for Community Health Systems, Inc. in the financial aspect.
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