Community Health Systems, Inc. (NYSE:CYH) Q3 2024 Earnings Conference Call October 24, 2024 11:00 AM ET

Company Participants

Anton Hie - Vice President of Investor Relations
Tim Hingtgen - Chief Executive Officer
Kevin Hammons - President and Chief Financial Officer
Miguel Benet - Executive Vice President, Clinical Operations

Conference Call Participants

Brian Tanquilut - Jefferies
A.J. Rice - UBS
Andrew Mok - Barclays
Ben Hendrix - RBC Capital Markets
Stephen Baxter - Wells Fargo
Joshua Raskin - Nephron Research

Operator

Good day, and welcome to the Community Health Systems Third Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]. Please note this event is being recorded.

I'd now like to turn the conference over to Anton Hie, Vice President of Investor Relations. Please go ahead.

Anton Hie

Thank you, Jay. Good morning, and welcome to Community Health Systems's third quarter 2024 conference call. Participating on today's call are Tim Hingtgen, Chief Executive Officer; Kevin Hammons, President and Chief Financial Officer and Dr. Miguel Benet, Executive Vice President, Clinical Operations. Before we begin, I must remind everyone this conference call may contain certain forward-looking 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 SEC.

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've also posted a supplemental slide presentation on our website.

All calculations we will discuss exclude impairment expense as well as gains or losses on the sale of businesses, expense from government and other legal matters and related costs, expense from business transformation costs, expenses related to employee termination benefits and other restructuring charges and change in estimate for professional claims liability.

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

Tim Hingtgen

Thank you, Anton, and thanks everyone for joining our third quarter earnings conference call. I'd like to begin by addressing the impact of back to back hurricanes, Helene and Milton. The hurricanes impacted several of the communities we serve, primarily in Florida, Georgia and East Tennessee. As a result, in late third quarter, and early fourth quarter, CHS hospitals most likely to experience severe impact ramp down services and canceled elective procedures. In total, three of our facilities were evacuated and closed consistent with local orders.