Community Health 3Q profit falls on debt costs
FRANKLIN, Tenn. (AP) — Community Health Systems Inc.'s third-quarter net income fell 40 percent as the hospital operator booked costs for paying off debt early.
The company earned $44.2 million, or 49 cents per share, from continuing operations for the period that ended Sept. 30, compared with $74.3 million, or 83 cents per share, in the prior year. But excluding costs for prepaying debt, Community Health earned 86 cents per share in the most recent quarter.
Community Health System's revenue increased 9 percent to $3.21 billion on higher patient admissions. The company, based in Franklin, Tenn., operates 135 hospitals across the country.
Community Health System also said that it has extended nearly all of its long-term debt over the past several months. The company is expected to provide more details on the period Wednesday when it hosts a conference call with investors.