R1 RCM (NASDAQ: RCM) reported Q2 EPS of $0.03, in-line with the analyst estimate of $0.03. Revenue for the quarter came in at $314.7 million versus the consensus estimate of $304.96 million.

Second Quarter 2020 Results:

• Revenue of $314.7 million, up $19.7 million and 6.7% compared to the same period last year
• GAAP net income of $15.1 million, compared to net loss of $5.2 million in the same period last year
• Adjusted EBITDA of $65.3 million, up $24.7 million compared to the same period last year

“I want to thank all of our employees for supporting our healthcare provider customers and the patients they serve during these challenging times. From enabling contactless check-in to enhancing collections, R1 has been at the forefront of helping customers navigate the current crisis, and I am incredibly proud of the team,” said Joe Flanagan, President and Chief Executive Officer of R1. “We continue to be prepared for a variety of scenarios in the back half of the year while ensuring R1 is positioned for sustained long-term growth.”

“Our second quarter results demonstrate our team's commitment to successfully navigate the challenges presented by COVID-19 through disciplined overhead cost reduction while supporting growth,” added Rachel Wilson, Chief Financial Officer and Treasurer. “With the recovery in patient volumes experienced to date and the visibility in our business model, we are pleased to re-introduce 2020 financial guidance.”

GUIDANCE:

R1 RCM sees FY2020 revenue of $1.22-1.25 billion, versus the consensus of $1.21 billion.

For 2020, R1 expects to generate:

• Revenue of between $1,220 million and $1,250 million
• GAAP operating income of $90 million to $110 million
• Adjusted EBITDA of $230 million to $240 million

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