Community Health Systems Expects Q2 Revenues To Miss Steet, Shares Plunge 18%

(RTTNews) - Community Health Systems Inc. (CYH) Thursday said it anticipates net operating revenues for the second quarter of 2013 to be about $3.236 billion, down from $3.243 billion last year.

Analysts polled by Thomson Reuters currently estimate revenues of $3.37 billion for the quarter. Following the news, shares of Community Health Systems plunged about 18 percent in extended trading hours.

The company, in a statement, said the consolidated operating results for quarter reflect a 5.1 percent decrease in total admissions and a 1.8 percent decrease in adjusted admissions. On a same-store basis, admissions decreased 5.7 percent while adjusted admissions decreased 2.6 percent from last year.

CYH closed Wednesday's trading at $47.31, up $0.06 or 0.13%, on the NYSE. The stock, however, slipped $8.31 or 17.56% in after-hours trade.