Community Health reports Q2 EPS ex-items (22c), consensus (27c)

Reports Q2 revenue $3.115B, consensus $3.04B. Commenting on the results, Tim L. Hingtgen, chief executive officer of Community Health Systems, Inc., said, “Our continued progress in the second quarter included sequential improvements in key operating metrics including patient volumes and net operating revenues, among others. During the quarter, we saw further recovery in the utilization of our healthcare services and we executed key growth and expense management initiatives that are producing strong results for our markets and the Company overall. Other strategic developments are expected to have a positive impact moving forward, including recent investments to modernize our business operations. We are in the process of redesigning numerous workflows that will further standardize and centralize key business functions across our organization, which we are referring to as Project Empower. As part of Project Empower, we are nearing the launch of a new Enterprise Resource Planning (ERP) platform which will enable us to leverage this new way of doing business as we streamline and enhance many business support services.”