Community Health Systems, Inc. (NYSE:CYH) Q2 2023 Results Conference Call August 3, 2023 11:00 AM ET

Company Participants

Anton Hie - VP, IR

Tim Hingtgen - CEO

Kevin Hammons - President, CFO

Conference Call Participants

A.J. Rice - Credit Suisse

Brian Tanquilut - Jefferies

Andrew Mok - UBS

Jason Cassorla - Citigroup

Josh Raskin - Nephron Research

Kevin Fischbeck - Bank of America

Stephen Baxter - Wells Fargo

Operator

Good morning, everyone, and welcome to the Community Health Systems Second Quarter 2023 Earnings Conference Call. Please note that today's call is being recorded.

At this time, I'd like to hand the floor over to Anton Hie, Vice President of Investor Relations.

Anton Hie

Thank you, MJ. Good morning, and welcome to Community Health Systems' Second Quarter 2023 Earnings Conference Call. Joining me on today's call are Tim Hingtgen, Chief Executive Officer; and Kevin Hammons, President and Chief Financial Officer.

Before we begin, I must remind everyone that this conference call may contain certain forward statements, including all statements that do not relate solely to historical or current facts. These forward-looking statements are subject to a number of known and unknown risks which are described in headings such as Risk Factors in our annual report on Form 10-K and other reports filed with or furnished to the Securities and Exchange Commission.

As a consequence, actual results may differ significantly from those expressed in any forward-looking statements in today's discussion. We do not intend to update any of these forward-looking statements. Yesterday afternoon, we issued a press release with our financial statements and definitions and calculations of adjusted EBITDA and adjusted EPS.

We have also posted a supplemental slide presentation on our website. All calculations we will discuss on today's call exclude gains or losses from early extinguishment of debt, impairment expense as well as gains or losses on the sale of businesses, expense from government and other legal matters and related costs, expense related to employee termination benefits and other restructuring charges, expense from business transformation costs as well.

With that said, I will turn the call over to Tim Hingtgen, Chief Executive Officer.

Tim Hingtgen

Thanks, Anton. Good morning, and thank you for joining our second quarter conference call. We were pleased to deliver both year-over-year and sequential improvements in key operating metrics in the second quarter as we expected, with notable progress in the areas of patient volumes, net revenue and adjusted EBITDA.