MEDNAX (MD) Misses Q3 EPS by 3c, Revenues Miss; Offers 4Q EPS Outlook Below Consensus

MEDNAX (NYSE: MD) reported Q3 EPS of $0.94, $0.03 worse than the analyst estimate of $0.97. Revenue for the quarter came in at $897 million versus the consensus estimate of $912.05 million.

“Our operating results for the third quarter reflect continued execution of our corporate and operational initiatives, against a challenging market environment,” said Roger J. Medel, M.D., Chief Executive Officer of MEDNAX. “Our neonatology patient volumes were impacted by a decline in births during the quarter at the hospitals where we provide services, resulting in same-unit revenue growth below our expectations. However, the execution of our corporate and operational initiatives remained on target for the goals we established for 2018. We complemented these initiatives with investments in the growth of our organization, through targeted acquisitions completed subsequent to the third quarter, and a return of capital to our shareholders through the repurchase of $250 million of MEDNAX stock under the authorization we announced in August. Looking ahead, we believe the combination of our corporate and operational plans, targeted growth investments, and decisive action to focus on the areas of the business that are core to MEDNAX will position us well to generate enhanced shareholder value, while remaining committed to take great care of our patients.”

GUIDANCE:

MEDNAX sees Q4 2018 EPS of $0.87-$0.95, versus the consensus of $1.01.

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

You May Also Be Interested In

• Broadcom (AVGO) Tops Q2 EPS by 5c, Offers Guidance
• Petco Health and Wellness (WOOF) Misses Q1 EPS by 6c
• GitLab Inc (GTLB) Tops Q1 EPS by 2c, Beats on Revenue; Offers FY Guidance