Community Health Systems, Inc. (CYH)

NYSEHealth CareMedical - Care FacilitiesSnapshot 2026-10-23

$2.92+0.34%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Community Health Systems, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
FY 2026 · Q4
Revenue	—	2.86B
EPS	—	-0.078
FY 2026 · Annual
operating revenue	$11.4B–$11.6B	—
Revenue	—	11.45B
EPS	—	-1.127
EBITDA	$1.3B–$1.38Bnon-GAAP	—
FY 2027 · Annual
Revenue	—	11.53B
EPS	—	-0.462

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Complete strategic acquisitions to enhance market position	A supporting condition in Community Health Systems, Inc.'s published investment case. The stated target is Complete multiple acquisitions annually.	Intact	No acquisitions completed in next 12 months	2 acquisitions completed vs 0 trip condition Completed Huntsville (Apr 1) and Freeman (Jun 1) acquisitions; policy headwinds noted but execution remains active. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Management completed multiple acquisitions and divestitures in 2026, including Freeman Health System assets and eight hospitals divested by June 1, 2026, with approximately $110 million cash received. The company is delivering on this priority with active portfolio optimization through acquisitions and divestitures. Delivery assessment Oct 20, 2026
EPS improves toward breakeven in FY27	A primary condition in Community Health Systems, Inc.'s published investment case. The stated target is >= $0.10 per share.	Broken	EPS remains below zero in FY27	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. The Company reaffirmed its 2026 annual EPS guidance with a low end of $1.19 per share in February 2026 and maintained this guidance through Q2 2026. Actual diluted EPS was $0.51 in Q2 2026 and $0.09 for the first six months, indicating mixed progress relative to guidance. Delivery assessment Oct 20, 2026
Manage regulatory and litigation risks	A supporting condition in Community Health Systems, Inc.'s published investment case. The stated target is No material adverse rulings or penalties.	Intact	Material adverse regulatory ruling or large penalty announced	No material adverse rulings or penalties reported News cites policy headwinds and CMS rule concerns affecting guidance, but no concrete regulatory penalties or adverse rulings are reported. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue near $11.6B in FY26	A primary condition in Community Health Systems, Inc.'s published investment case. The stated target is ~$11.6B.	Broken	revenue falls below $11B in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 3 of last 3 quarters. Management completed multiple acquisitions and divestitures in 2026, including Freeman Health System assets and eight hospitals divested by June 1, 2026, with approximately $110 million cash received. The company is delivering on this priority with active portfolio optimization through acquisitions and divestitures. Delivery assessment Oct 20, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPSUnavailable

$0.11 → Unavailable · observed estimates

FY2027 revenue$11.53B

$11.78B → $11.53B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$0.11	$11,782,935,610	8 / 7
2026-07-25	$0.00	$11,710,190,990	6 / 7
2026-07-26	$0.00	$11,710,190,990	6 / 7
2026-07-27	$-0.08	$11,710,190,990	7 / 7
2026-07-28	$-0.08	$11,710,190,990	7 / 7
2026-07-29	$-0.41	$11,559,756,420	7 / 7
2026-07-30	$-0.41	$11,559,756,420	7 / 7
2026-07-31	$-0.41	$11,559,756,420	7 / 7
2026-08-01	Unavailable	$11,559,756,421	3 / 5
2026-08-02	$-0.41	$11,559,756,420	7 / 7
2026-08-03	Unavailable	$11,559,756,421	4 / 5
2026-08-04	$-0.41	$11,559,756,420	7 / 7
2026-08-05	Unavailable	$11,559,756,421	4 / 5
2026-08-06	$-0.53	$11,532,184,990	7 / 7
2026-08-07	Unavailable	$11,532,184,992	4 / 5
2026-08-08	$-0.53	$11,532,184,990	7 / 7
2026-08-09	Unavailable	$11,532,184,992	4 / 5
2026-08-10	Unavailable	$11,532,184,992	4 / 5
2026-08-11	Unavailable	$11,532,184,992	4 / 5
2026-08-12	$-0.53	$11,532,184,990	7 / 7
2026-08-13	Unavailable	$11,532,184,992	4 / 5
2026-08-14	Unavailable	$11,532,184,992	4 / 5
2026-08-15	Unavailable	$11,532,184,992	4 / 5
2026-08-16	Unavailable	$11,532,184,992	4 / 5
2026-08-17	Unavailable	$11,532,184,992	4 / 5
2026-08-18	Unavailable	$11,532,184,992	4 / 5
2026-08-19	Unavailable	$11,532,184,992	4 / 5
2026-08-20	Unavailable	$11,537,613,564	4 / 5
2026-08-21	Unavailable	$11,537,613,564	4 / 5
2026-08-22	Unavailable	$11,537,613,564	4 / 5
2026-08-23	Unavailable	$11,537,613,564	4 / 5
2026-08-24	Unavailable	$11,537,613,564	4 / 5
2026-08-25	Unavailable	$11,537,613,564	4 / 5
2026-08-26	Unavailable	$11,537,613,564	4 / 5
2026-08-27	Unavailable	$11,537,613,564	4 / 5
2026-08-28	Unavailable	$11,537,613,564	4 / 5
2026-08-29	Unavailable	$11,537,613,564	4 / 5
2026-08-30	Unavailable	$11,537,613,564	4 / 5
2026-08-31	Unavailable	$11,537,613,564	4 / 5
2026-09-01	Unavailable	$11,537,613,564	4 / 5
2026-09-02	Unavailable	$11,537,613,564	4 / 5
2026-09-03	Unavailable	$11,537,613,564	4 / 5
2026-09-04	Unavailable	$11,537,613,564	4 / 5
2026-09-05	Unavailable	$11,537,613,564	4 / 5
2026-09-06	Unavailable	$11,537,613,564	4 / 5
2026-09-07	Unavailable	$11,537,613,564	4 / 5
2026-09-08	Unavailable	$11,537,613,564	4 / 5
2026-09-09	Unavailable	$11,537,613,564	4 / 5
2026-09-10	Unavailable	$11,537,613,564	4 / 5
2026-09-11	Unavailable	$11,537,613,564	4 / 5
2026-09-12	Unavailable	$11,537,613,564	4 / 5
2026-09-13	Unavailable	$11,537,613,564	4 / 5
2026-09-14	Unavailable	$11,537,613,564	4 / 5
2026-09-15	Unavailable	$11,537,613,564	4 / 5
2026-09-16	Unavailable	$11,537,613,564	4 / 5
2026-09-17	Unavailable	$11,537,613,564	4 / 5
2026-09-18	Unavailable	$11,537,613,564	4 / 5
2026-09-19	Unavailable	$11,537,613,564	4 / 5
2026-09-20	Unavailable	$11,537,613,564	4 / 5
2026-09-21	Unavailable	$11,537,613,564	4 / 5
2026-09-22	Unavailable	$11,537,613,564	4 / 5
2026-09-23	Unavailable	$11,537,613,564	4 / 5
2026-09-24	Unavailable	$11,526,036,868	4 / 5
2026-09-25	Unavailable	$11,526,036,868	4 / 6
2026-09-26	Unavailable	$11,526,036,868	4 / 6
2026-09-27	Unavailable	$11,526,036,868	4 / 6
2026-09-28	Unavailable	$11,526,036,868	4 / 6
2026-09-29	Unavailable	$11,526,036,868	4 / 6
2026-09-30	Unavailable	$11,526,036,868	4 / 6
2026-10-01	Unavailable	$11,526,036,868	4 / 6
2026-10-02	Unavailable	$11,526,036,868	4 / 6
2026-10-03	Unavailable	$11,526,036,868	4 / 6
2026-10-04	Unavailable	$11,526,036,868	4 / 6
2026-10-05	Unavailable	$11,526,036,868	4 / 6
2026-10-06	Unavailable	$11,526,036,868	4 / 6
2026-10-07	Unavailable	$11,526,036,868	4 / 6
2026-10-08	Unavailable	$11,526,036,868	4 / 6
2026-10-09	Unavailable	$11,526,036,868	4 / 6
2026-10-10	Unavailable	$11,526,036,868	4 / 6
2026-10-11	Unavailable	$11,526,036,868	4 / 6
2026-10-12	Unavailable	$11,526,036,868	4 / 6
2026-10-13	Unavailable	$11,526,036,868	4 / 6
2026-10-14	Unavailable	$11,526,036,868	4 / 6
2026-10-15	Unavailable	$11,526,036,868	4 / 6
2026-10-16	Unavailable	$11,526,036,868	4 / 6
2026-10-17	Unavailable	$11,526,036,868	4 / 6
2026-10-18	Unavailable	$11,526,036,868	4 / 6
2026-10-19	Unavailable	$11,526,036,868	4 / 6
2026-10-20	Unavailable	$11,526,036,868	4 / 6
2026-10-21	Unavailable	$11,526,036,868	4 / 6
2026-10-22	Unavailable	$11,526,036,868	4 / 6
2026-10-23	Unavailable	$11,526,036,868	4 / 6
2026-10-24	Unavailable	$11,526,036,868	4 / 6

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	2	5	2
2026-06-01	2	5	2
2026-07-01	2	5	3
2026-08-01	2	4	3
2026-09-01	2	5	3
2026-10-01	2	5	3

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 2 Buy / Strong Buy · 5 Hold · 3 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

EPS improves toward breakeven in FY27Published status: Broken
Revenue near $11.6B in FY26Published status: Broken

Next proof point

Oct 28, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

2 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.7%Typical daily move · historical

Downside history

-43.5%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Community Health Systems, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a high-risk, value-oriented healthcare operator with a potentially improving business, rather than a steady compounder. The long-term thesis is intact, but recent earnings misses and inconsistent cash flow make execution uncertain.

What's priced into Community Health Systems, Inc.

CYH screens cheap versus peers, while the pricing evidence is marked as justified and shows no major fragility flags. The expectations gap is negative, but model confidence is low, so the valuation signal is not strong evidence that expectations are undemanding.

What the fundamentals likely do

Near term, earnings and cash flow may remain uneven: CYH has had consecutive earnings misses, while operating cash flow improved from negative in Q1 to positive in Q2 2026. Management is completing acquisitions and divestitures, but progress on maintaining 2026 EPS guidance and improving cash flow is mixed.

What Community Health Systems, Inc. hinges on

The next earnings call is a key near-term test, since a guidance cut would add pressure to an already miss-prone record. A weakening jobs trend could also weigh on cyclical healthcare names, while continued strong results and higher guidance from sector peers would support the sector backdrop.