R1 RCM (RCM) Tops Q4 EPS by 20c, Revenues Beat; Offers FY21 Revenue Mid-Point Guidance Below Consensus

R1 RCM (NASDAQ: RCM) reported Q4 EPS of $0.25, $0.20 better than the analyst estimate of $0.05. Revenue for the quarter came in at $328.4 million versus the consensus estimate of $315.21 million.

Fourth Quarter 2020 Results:

• Revenue of $328.4 million, up $14.4 million and 4.6% compared to the same period last year
• GAAP net income of $78.6 million, compared to GAAP net income of $7.8 million in the same period last year
• Adjusted EBITDA of $62.7 million, up $17.6 million and 39.0% compared to the same period last year

“I am very pleased with our performance in 2020, which was a direct result of tremendous dedication by the entire R1 team in a challenging environment,” said Joe Flanagan, President and Chief Executive Officer of R1. “We enter 2021 with strong momentum across the business. Market demand for our offerings remains robust and we plan to continue investing in technology and our team to extend our lead in the market.”

“Our 2020 financial performance in a complicated environment demonstrates the strong commitment by our team and the durability of our business model,” added Rachel Wilson, Chief Financial Officer and Treasurer. “Given our visibility, we are well-positioned to deliver on our commitments to our stakeholders.”

GUIDANCE:

R1 RCM sees FY2021 revenue of $1.41-1.46 billion, versus the consensus of $1.46 billion.

For 2021, R1 expects to generate:

• Revenue of between $1,410 million and $1,460 million
• GAAP operating income of $135 million to $155 million
• Adjusted EBITDA of $315 million to $330 million

For earnings history and earnings-related data on R1 RCM (RCM) click here.

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