MEDNAX (MD) Misses Q3 EPS by 3c, Revenues Miss

MEDNAX (NYSE: MD) reported Q3 EPS of $0.37, $0.03 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $461 million versus the consensus estimate of $535.39 million.

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

• Net revenue of $461 million;
• Loss of $3 million; and
• Adjusted EBITDA of $73 million.

“We believe the meaningful recovery in patient volumes experienced during the third quarter demonstrates the critical nature of services our affiliated physicians and clinicians provide to their patients across the spectrum of women’s and children’s care,” said Mark S. Ordan, Chief Executive Officer of MEDNAX. “In addition, we achieved several important milestones, in particular our announced definitive agreement to sell MEDNAX Radiology Solutions. This transaction will enable us to focus fully on our core services within our Pediatrix and Obstetrix Medical Groups, which we believe will enable us to support our practices, grow efficiently and effectively, and drive strong bottom line results.”

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

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