Community Health Systems, Inc. CYH reported fourth-quarter 2020 adjusted net income of 96 cents per share, beating the Zacks Consensus Estimate of 18 cents by 433.3%. Moreover, the bottom line soared 140% year over year.The company’s results benefited from lower expenses and solid revenues, partially offset by reduced patient volumes.Community Health Systems, Inc. Price, Consensus and EPS Surprise Community Health Systems, Inc. price-consensus-eps-surprise-chart | Community Health Systems, Inc. QuoteQuarterly Operational UpdateIn the fourth quarter, net operating revenues were $3.1 billion, trumping the Zacks Consensus Estimate by 1.3%. However, the top line dipped 5.1% year over year due to weak admissions.The fourth quarter witnessed a decrease of 12.9% and 17.8% in admissions and adjusted admissions each from the respective year-ago numbers.As of Dec 31, 2020, the number of licensed beds came in at 14110, down 13.1% from the prior-year quarter.For the fourth quarter, the company delivered total adjusted EBITDA of $614 million, up 37.4% year over year.Total operating costs and expenses of $2.7 billion were down 14% year over year owing to lower salaries and benefits, other operating expenses, depreciation and amortization. Also, interest expenses of $252 million slid 2.7% in the fourth quarter.Financial UpdateTotal assets at fourth-quarter end were $16 billion, which inched up 2.5% from the level at 2019 end.Cash and cash equivalents of $1.7 billion compared favorably with $216 million at 2019 end.At the end of the fourth quarter, net cash provided by operating activities was $2.1 billion compared with net cash provided by operating activities of $385 million in the same period of 2019.The company has a long-term debt of $12 billion as of Dec 31, 2020, down 9.7% from the level as of Dec 31, 2019.2021 GuidanceNet operating revenues are expected in the range of $11.7-$12.5 billion.Adjusted EBITDA is estimated in the band of $1.6-$1.8 billion. Interest expense is anticipated between $895 million and $905 million.Net cash provided by operating activities is expected between $200 and $300 million. Capex is expected between $400 to $500 million.Full-Year UpdateFor 2020, revenues came at $11.8 billion, down 10.8% from the 2019 level. Net income attributable to the company came in at $4.39 against net loss of $5.93 per share in 2019. Adjusted EBITDA for 2020 was $1.8 billion, up 11.1% year over year.Zacks RankCommunity Health carries a Zacks Rank #3 (Hold), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other Medical Sector ReleasesOf the medical sector players that have reported fourth-quarter results so far, the bottom-line results of Tenet Healthcare Corporation THC, HCA Healthcare, Inc. HCA and Centene Corp. CNC beat the respective Zacks Consensus Estimate.Zacks Names “Single Best Pick to Double”From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >> 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 Community Health Systems, Inc. (CYH): Get Free Report Tenet Healthcare Corporation (THC): Free Stock Analysis Report HCA Healthcare, Inc. (HCA): Get Free Report Centene Corporation (CNC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research