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Community Health lowers 2013 forecast as admissions fall

Bloomberg Businessweek, July 19, 2013
Community Health Systems Inc., the second-largest U.S. hospital system, cut its earnings outlook for the year as admissions decline. The shares fell 19 percent. Income from continuing operations will be $2.95 to $3.25 a share, the Franklin, Tennessee-based company said today in a statement. Analysts were expecting profit of $3.65 a share, the average of 24 estimates (CYH:US) compiled by Bloomberg. The company said second-quarter revenue was little changed at $3.24 billion. Weaker patient volume and higher-than-anticipated bad debts are helping stall revenue growth, Community Health said.