MEDNAX (MD) Misses Q1 EPS by 24c, Revenues Miss

MEDNAX (NYSE: MD) reported Q1 EPS of $0.32, $0.24 worse than the analyst estimate of $0.56. Revenue for the quarter came in at $846 million versus the consensus estimate of $856.42 million.

For the 2020 first quarter, MEDNAX reported the following results from continuing operations:

• Net revenue of $846 million;
• Loss of $16 million; and
• Adjusted EBITDA of $63 million.

“Our operating results for the quarter, and following the quarter, have been significantly impacted by the COVID-19 pandemic,” said Roger J. Medel, M.D., Chief Executive Officer of MEDNAX. “I am immensely proud of our organization’s commitment to take great care of the patient, and the steps we have taken to put that commitment into action in such an unprecedented environment. In turn, we are committed to working collaboratively, across our medical groups and with our hospital partners, to ensure clinician and patient safety and to provide access to the critical services provided by our affiliated physicians and non-physician clinicians.”

Withdrawal of Preliminary Full Year Outlook for 2020 Due to COVID-19 Impact

On March 25, 2020, MEDNAX withdrew its previously announced quarterly and full year outlook for 2020. Due to the rapidly evolving environment and continued uncertainties surrounding the impact of COVID-19 and the likelihood that this impact may materially affect the Company’s near-term performance, the Company is not providing any outlook for its performance for the second quarter of 2020 or for the full year 2020.

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

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