R1 RCM (RCM) Tops Q1 EPS by 2c, Revenues Beat; Offers FY19 Revenue Guidance

R1 RCM (NASDAQ: RCM) reported Q1 EPS of ($0.04), $0.02 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $275.9 million versus the consensus estimate of $266.37 million.

• Revenue of $275.9 million, up $128.6 million and 87.3% compared to the same period last year
• GAAP net income of $0.2 million, compared to net loss of $23.3 million in the same period last year
• Adjusted EBITDA of $33.4 million, up $33.1 million compared to the same period last year

“Our first quarter results reflect continued excellent execution by our team,” said Joe Flanagan, President and Chief Executive Officer of R1. “We remain focused on delivering high-quality results for our customers and continue to be encouraged by market demand for all three of our go-to-market models.”

“I’m pleased with the results our team delivered in the first quarter. Given this strong start to the year, we have increased confidence in delivering on our 2019 goals,” added Chris Ricaurte, Chief Financial Officer and Treasurer of R1.

GUIDANCE:

R1 RCM sees FY2019 revenue of $1.15-1.25 billion, versus the consensus of $1.2 billion.

For earnings history and earnings-related data on R1 RCM (RCM) click here.

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