This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
CHS’s Bonds Drop by 2-5 points on 3Q Loss and Guidance Cut
October 25, 2024
Community Health System’s (CHS) bonds dropped by 2-5 points across the curve after the company reported weak 3Q numbers and cut its revenue guidance for FY24. For 3Q, the company reported net operating revenue of $3.09bn vs. estimates of $3.08bn but its adjusted loss per share came in at 30 cents vs. estimates of 19 cents loss per share. For FY2024, the company also trimmed its revenue and adjusted-EBITDA guidance to $12.45-12.55bn and $1.5-1.54bn respectively. Company said that the results were hurt by increased expense for salaries and benefits, higher costs for outsourced medical specialist as well as Hurricane Helene. Following the results, the company’s shares dropped, closing lower by 23.4% in a singe day. Its dollar bonds also traded weaker with its 6.875% 2029s down by 4.6 points to 83.16, yielding 11.84%.
For more details, click here
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.