NEW YORK - Shares of Community Health Systems Inc. jumped Wednesday on a fairly strong outlook from the hospital operator, which runs the local ValleyCare Health System.
The company said Tuesday it expects a profit of $3.45 to $3.70 per share from continuing operations in 2012. Community Health said in November that it expected to earn $3.60 per share for the year.
The new forecast includes income of 84 to 90 cents per share from continuing operations in the first quarter.
Analysts expected earnings of $3.55 per share for the year and 87 cents per share in the first quarter, according to a survey by FactSet.
The Franklin, Tenn., company reported Tuesday that it earned 82 cents per share, excluding one-time items in the fourth quarter. Its revenue rose 4 percent to $3.44 billion. Analysts expected earnings of 82 cents per share on $3.54 billion in revenue.
The company ran 131 hospitals at the end of the quarter. Its adjusted admissions, which include inpatient and outpatient procedures, rose 1.8 percent to 331,720.
Community in October 2010 bought Trumbull Memorial Hospital and Hillside Rehabilitation Hospital in Trumbull County, along with Northside Medical Center in Youngstown, during Forum Health's bankruptcy.