ExamWorks Group, Inc. (EXAM) Tops Q2 EPS by 5c; Raises Outlook

ExamWorks Group, Inc. (NYSE: EXAM) reported Q2 EPS of $0.09, $0.05 better than the analyst estimate of $0.04. Revenue for the quarter came in at $196.4 million versus the consensus estimate of $184.52 million.

ExamWorks Group, Inc. sees Q3 2014 revenue of $194-200 million, versus the consensus of $180.3 million.

Business Outlook

ExamWorks is providing the following business outlook for the third quarter and full year of 2014:

• Third quarter 2014 reported revenues are expected to range between $194 million and $200 million and include an estimated $4 million favorable impact due to currency as compared to prior year reported revenues. This guidance implies a growth rate on an as reported basis ranging between approximately 27% and 31%. Organic growth on a constant currency basis is expected to range between 9% and 11%.
• Third quarter 2014 reported adjusted EBITDA margin is expected to range between 17.2% and 17.6% of reported revenues.
• Raising our guidance, our full year 2014 reported revenues are now expected to increase between 22.5% and 24.5% from our 2013 reported revenues of approximately $616.0 million. Organic growth, on a constant currency basis, is now expected to range between 9% and 11%, with the balance of our growth coming from the Recent Acquisitions. This guidance does not include any future acquisitions that may be completed in 2014.
• Raising our guidance, our full year 2014 adjusted EBITDA margin is now expected to range between 16.75% and 17.75% of reported revenues. On a quarterly basis, adjusted EBITDA margin as a percentage of revenue may fluctuate between 17% and 18%.

For earnings history and earnings-related data on ExamWorks Group, Inc. (EXAM) click here.

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