MultiPlan Corp. (MPLN) Misses Q2 EPS by 9c, Revenue Beats, Offers Guidance
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MultiPlan Corp. (NYSE: MPLN) reported Q2 EPS of ($0.07), $0.09 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $276.3 million versus the consensus estimate of $259.82 million.
2021 Financial Guidance
The Company is increasing its Full Year 2021 guidance for revenues, Adjusted EBITDA and cash flow from operations, reflecting the combination of: expectation that the impact of the COVID-19 pandemic on revenue and Adjusted EBITDA in the second half of 2021 will be lower than the Company’s prior estimates; continued organic growth in revenues driven by a strong pipeline of service implementations with customers, and better-than-anticipated Q2 2021 results. A comparison of the Company’s prior and revised Full Year 2021 guidance is presented in the table below.
Financial Metric |
| Prior FY 2021 Guidance |
| Updated FY 2021 Guidance |
Revenues |
| $1,040 million to $1,100 million |
| $1,090 million to $1,130 million |
Adj. EBITDA |
| $750 million to $790 million |
| $810 million to $835 million |
Cash flow from operations |
| $380 million to $420 million |
| $410 million to $440 million |
Capital expenditures |
| $75 million to $80 million |
| $75 million to $80 million |
Interest expense |
| $250 million to $260 million |
| $250 million to $260 million |
Depreciation |
| $60 million to $65 million |
| $65 million to $70 million |
Amortization of intangible assets |
| $340 million to $345 million |
| $335 million to $345 million |
Effective tax rate |
| 25% to 28% |
| 25% to 28% |
(Consensus sees FY revenue of $1.06 billion)
For earnings history and earnings-related data on MultiPlan Corp. (MPLN) click here.
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