Community Health Systems, Inc. CYH reported adjusted earnings of 8 cents per share in the first quarter of 2017, which beat the Zacks Consensus Estimate of 6 cents by 33%. The company had incurred a loss of $1.79 per share in the first quarter, wider than a loss of 10 cents in the year-ago quarter.Quarterly Operational Update:In the first quarter, net operating revenue of $4.5 billion surpassed the Zacks Consensus Estimate by 3.3% but decreased 10.3% year over year.Total admissions of 2.1 billion decreased 11.5% and adjusted admissions of 4.5 billion declined 12.5%, both on a year-over-year basis. On a same-store basis, admissions dipped 1.5% and adjusted admissions were down 1.4%, both on a year-over-year basis.In the reported quarter, total operating expense declined 6.2% to $4.4 billion, primarily due to lower salaries and benefits paid to employees, depreciation & amortization-related expenses and other operating costs.Financial Update:As of Mar 31, 2017, the company’s total assets declined 13% year over year to $21.7 billion. Cash and cash equivalent grew 38% year over year to $247 million.The company paid off a substantial portion of its debt through divestures. It now has a long-term debt of $14.7 billion as of Mar 31, 2017, down 0.7% year over year.Total shareholders’ equity was $1.43 billion as of Mar 31, 2017, down 11.5% from year-end 2016.Cash flow from operations was $242 million at the end of the first quarter, down 17.7% year over year from $294 million.2017 GuidanceCommunity Health expects net operating revenue (less provision for bad debts) in the range of $15.8 billion to $16.2 billion.The company projects adjusted EBITDA for 2017 in the range of $2–$2.175 billion.Weighted-average diluted shares is expected the band of $112–$113 million.Community Health Systems, Inc. Price, Consensus and EPS Surprise Community Health Systems, Inc. Price, Consensus and EPS Surprise | Community Health Systems, Inc. QuoteZacks Rank and Performance of Other InsurersCommunity Health presently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Among the other firms in the medical sector that have reported first-quarter earnings so far, the bottom line at Centene Corp. CNC, Quest Diagnostics Incorporated DGX and UnitedHealth Group Inc. UNH beat their respective Zacks Consensus Estimate.5 Trades Could Profit "Big-League" from Trump Policies If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UnitedHealth Group Incorporated (UNH): Free Stock Analysis Report Centene Corporation (CNC): Free Stock Analysis Report Community Health Systems, Inc. (CYH): Free Stock Analysis Report Quest Diagnostics Incorporated (DGX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research