Hospital chain Community Health Systems posted net income from continuing operations of $102.2 million in the second quarter, a 10 percent increase from a year ago. Per diluted share, profits were 92 cents, 3 cents better than analysts had been looking for.
Revenues at Franklin-based CHS rose about 8 percent to $3.24 billion. Same-facility adjusted admissions rose 0.5 percent to almost 334,000 during the quarter, but operating margins retreated to 9.7 percent from 10 percent.
"We are especially pleased with our volume trend improvement, with moderation in the rate of decline in admissions and an increase in adjusted admissions on a same-store basis, compared with a year ago," said Chairman, President and CEO Wayne Smith. "In addition, our focus on disciplined expense management across our hospital network has yielded positive results in a challenging environment."
CHS shares (Ticker: CYH) closed Wednesday trading up slightly at $25.35. So far in 2012, they've climbed about 45 percent.
Farm and ranch retailer Tractor Supply said it earned almost $107 million in the second quarter, an increase of 17 percent from a year ago. Per diluted share, profits were $1.45, 6 cents better than analysts had expected.
Revenue at Brentwood-based Tractor Supply rose to $1.29 billion from $1.18 billion in the spring of 2011. Operating margins climbed almost a full point from a year ago to 13.1 percent. Officials said the increase was due primarily to lower sales of low-margin big-ticket and seasonal items.
"The pull-forward of spring category demand into the first quarter from the second quarter was at the high end of our previously communicated range, while all core [consumable, usable and edible] businesses posted solid increases above last year," said Chairman and CEO Jim Wright. "Our operating performance and 17th consecutive quarter of comp transaction count increases are testaments to the stability we have built in our business and continue to demonstrate the progress we are making on many of our key initiatives."
In after-hours trading Wednesday, Tractor Supply shares (Ticker: TSCO) rose 2.5 percent to $81.05. They're up about 14 percent year to date.