Allscripts (MDRX) Misses Q1 EPS by 6c, Revenues Miss; Withdraws FY20 Guidance

Allscripts (NASDAQ: MDRX) reported Q1 EPS of $0.09, $0.06 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $417 million versus the consensus estimate of $423.06 million.

“Our first quarter results show continued strength in new bookings, which reflects the confidence our clients have in our solutions,” commented Paul M. Black, Allscripts Chief Executive Officer. “The COVID-19 pandemic has created challenges for our clients and thus for our business. The pandemic accentuates the importance of mission-critical EMR solutions, and the value of actionable real time data and analytics to better care for a new cohort of critically ill patients. I am extremely proud of the work we are doing to provide excellent support for our clients and implement new and innovative solutions, addressing this pandemic around the globe. Looking ahead, we believe Allscripts will likely be impacted as our clients focus on responding to the pandemic and caring for their patients. However, we believe Allscripts’ agility and prior strategic platform investments prepare us to handle the challenges resulting from this global uncertainty. We fully intend to align with existing and new clients to capitalize on opportunities to deploy value-added solutions. Allscripts has multiple competitive advantages, including a robust solutions portfolio, a diversified global client base and high recurring revenues, positioning us well as we chart the path back to a more normalized operating environment.

2020 Financial Outlook

Given the current uncertainty presented by the COVID-19 pandemic, Allscripts is withdrawing its prior financial outlook for the full-year 2020.

For earnings history and earnings-related data on Allscripts (MDRX) click here.

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