RadNet Reports First Quarter Financial Results and Announces Strong Liquidity Position as a Result of Completing Cost Savings and Cash Conservation Measures

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Go back to RadNet Reports First Quarter Financial Results and Announces Strong Liquidity Position as a Result of Completing Cost Savings and Cash Conservation Measures

RadNet (RDNT) Misses Q1 EPS by 16c, Revenues Miss

May 11, 2020 6:04 AM EDT

RadNet (NASDAQ: RDNT) reported Q1 EPS of ($0.33), $0.16 worse than the analyst estimate of ($0.17). Revenue for the quarter came in at $248.33 million versus the consensus estimate of $258.42 million.

1st Quarter 2020 Results:

In the first quarter 2020, Covid-19 negatively impacted Revenue by an estimated $25 million and Adjusted EBITDA(1) by approximately $14 million relative to the Companys original operating budgetDespite Covid-19s impact, Revenue increased 3.7% to $281.6 million in the first quarter of 2020 from $271.5 million in the first quarter of 2019; This was primarily the result of the contributions of the Kern Radiology and Zilkha Radiology... More