HMS Holdings Corp. (HMSY) Tops Q1 EPS by 6c, Revenues Beat

HMS Holdings Corp. (NASDAQ: HMSY) reported Q1 EPS of $0.28, $0.06 better than the analyst estimate of $0.22. Revenue for the quarter came in at $148 million versus the consensus estimate of $144.13 million.

• Total Revenue of $148.0 Million, +4.7% vs. 1Q’18 (+11.3% excluding Medicare RAC Reserve Release in 1Q’18)
• GAAP EPS of $0.22 Per Diluted Share, Including Discrete Tax Benefits of $0.07 Per Diluted Share
• Adjusted EPS of $0.28 Per Diluted Share Excluding Discrete Tax Benefits of $0.07 Per Diluted Share
• Net Income of $19.6 Million and Adjusted EBITDA of $41.0 Million

“We are encouraged by our solid start to 2019, with first quarter revenue rising 11% excluding the Medicare RAC reserve release, net income more than doubling and adjusted EBITDA increasing over 17% compared to the first quarter last year. These results clearly demonstrate the inherent operating leverage of our business model,” said Bill Lucia, Chairman and CEO. “The double-digit growth in both our coordination of benefits and total population management revenue reflects strong demand for those services and the ongoing opportunity to cross sell into our existing customer base. Our margin expansion also clearly demonstrated the inherent operating leverage of our business model and highlighted the meaningful impact our investments in advanced technology applications are having on our profitability.”

For earnings history and earnings-related data on HMS Holdings Corp. (HMSY) click here.

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