CHS expects revenue of up to $12.5B this year

Franklin, Tenn.-based Community Health Systems had estimated net operating revenue of $11.78 billion to $11.8 billion in 2020, according to the company's preliminary earnings released Jan. 14. 

That's compared to 2019, when the for-profit hospital operator reported revenue of $13.2 billion. The company posted revenue of $14.2 billion in 2018. 

CHS said adjusted EBITDA for 2020 is expected to be slightly above the company's guidance of $1.65 billion to $1.8 billion. The guidance was issued in February and withdrawn in April due to the pandemic. 

The company recognized about $600 million of pandemic relief funds in 2020. CHS said expenses and revenue lost during 2020 as a result of the COVID-19 pandemic exceed the amount of relief funds recognized last year. 

CHS issued preliminary guidance for 2021. It anticipates net operating revenue in the range of $11.7 billion to $12.5 billion and adjusted EBITDA between $1.6 billion and $1.8 billion.

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