Yahoo Finance MEDNAX's (MD) Earnings Miss Estimates in Q1, Tumble Y/Y
MEDNAX, Inc. MD reported first-quarter 2020 adjusted earnings of 32 cents per share, missing the Zacks Consensus Estimate by 23.8%. Moreover, the bottom line plunged 50.8% year over year.
The company’s results were negatively impacted by the COVID-19 pandemic. In fact, the coronavirus outbreak dented patient volumes as well as revenue.
MEDNAX Inc Price and EPS Surprise
MEDNAX Inc price-eps-surprise | MEDNAX Inc Quote
Quarterly Details
The company generated revenues of $846 million, which missed the Zacks Consensus Estimate by 0.6%. Also, the top line slid 0.6% from the year-ago period.
Same unit revenues dipped 1% year over year.
General and administrative expenses inched 3.3% to $105.2 million due to higher general and administrative expenses.
Interest expense of the company declined 10.1% to $27.6 million on the back of lower borrowings.
In the quarter under review, EBITDA totaled $63.4 million, down 39.6% year over year.
The company invested $13.7 million in capital expenditures.
Withdrawal of Preliminary Outlook
Given the current pandemic-led uncertainty, the company scrapped its previously-announced quarterly and 2020 outlook.
Financial Update
As of Mar 31, 2020, the company had cash and cash equivalents of $312 million, up 177% from the level at 2019 end.
The company’s total debt of $2.1 billion was up 21.5% from the level at 2019 end while total assets worth $4.3 billion rose 4.2% from the level at 2019 end.
Cash flow used in operating activities was $146.4 million in the quarter under review, jumping 142.4% year over year.
Zacks Rank
MEDNAX currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Players
Of the other players from the same space that reported first-quarter results so far, Tenet Healthcare Corporation’s THC bottom line beat the Zacks Consensus Estimate while that of HCA Healthcare Inc HCA and Universal Health Services Inc UHS missed the mark.
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Universal Health Services Inc (UHS) : Free Stock Analysis Report
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