MEDNAX (MD) Tops Q3 EPS by 2c, Beat on Revenues; Offers Q4 EPS Guidance Below Consensus

MEDNAX (NYSE: MD) reported Q3 EPS of $0.87, $0.02 better than the analyst estimate of $0.85. Revenue for the quarter came in at $869 million versus the consensus estimate of $866.42 million.

2017 Fourth Quarter Outlook

For the 2017 fourth quarter, MEDNAX expects earnings per share will be in a range of $0.64 to $0.69 per diluted share and Adjusted EPS will be in a range of $0.80 to $0.85. The Adjusted EPS range excludes approximately $0.11 per diluted share of estimated amortization expense and $0.05 per diluted share of estimated stock-based compensation expense.

Additionally, for the 2017 fourth quarter, MEDNAX expects that EBITDA will decrease by 10 percent to 15 percent, compared to the prior-year period.

This outlook assumes that total same-unit revenue growth for the three months ended December 31, 2017 will be in a range of flat to 2 percent, compared to the prior-year period.

This outlook also assumes an effective tax rate for the fourth quarter of 2017 of approximately 39 percent.

For the 2017 third quarter, MEDNAX reported the following results:

• Net revenue of $869 million;
• Net income of $66 million; and
• EBITDA of $152 million.

GUIDANCE:

MEDNAX sees Q4 2017 EPS of $0.80-$0.85, versus the consensus of $0.86.

For earnings history and earnings-related data on MEDNAX (MD) click here.

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