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Shares of Pediatrix Medical Group, Inc. (MD) gained 7.4% since it reported second-quarter 2024 results on Aug 6. Positive investor sentiment might have been caused due to stable patient volumes and improved hospital contract administrative fees. However, the upside was partly offset by an increased expense level resulting from rising practice salaries and benefits, and transformational and restructuring-related costs. MD reported second-quarter 2024 adjusted earnings per share (EPS) of 34 cents, which outpa ...

Financial Data and Key Metrics Changes - The second quarter operating results exceeded expectations, driven by same unit revenue growth and operating efficiencies [4] - Adjusted EBITDA for the full year 2024 is maintained at between $200 million and $220 million [6][10] - Operating cash flow generated in the second quarter was $109 million, compared to $93 million in the prior year [13] - Net debt position declined to roughly $600 million, maintaining leverage at or below 3x based on adjusted EBITDA outlook [14] Business Line Data and Key Metrics Changes - NICU days declined slightly, while hospital-based volume growth was driven by subspecialties such as newborn nursery and pediatric intensive care [4] - Maternal fetal medicine volume growth was strong, but pediatric urgent care experienced volume declines [5] - The company plans to exit almost all office-based practices except maternal fetal medicine during 2024, which is expected to generate approximately $30 million in annualized adjusted EBITDA [6][8] Market Data and Key Metrics Changes - The revenue profile post-restructuring will consist of approximately 80% hospital-based services and 20% office space [9] - The payer mix improved, with a greater mix of non-governmental payers versus Medicaid, although the $3 million settlement did not significantly impact this improvement [18] Company Strategy and Development Direction - The company is undergoing a broad-based portfolio restructuring plan aimed at focusing on service lines with solid financial underpinnings [6][10] - The restructuring includes exiting a significant number of office-based practices, which is expected to enhance operational efficiencies and margin profiles [6][8] - The company remains committed to investments in clinical research and education, foundational to its mission [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operating plans in motion, which are expected to enable the company to continue its mission effectively [12] - The company anticipates that the full impact of restructuring activities will be realized in 2025, with consistent performance expected in the third and fourth quarters of 2024 [22][27] - Management views the payer contracting landscape as stable, with normal course renewals continuing [19] Other Important Information - Kasandra Rossi has been appointed as Executive Vice President, Chief Financial Officer, and Treasurer effective October 1 [11] - The company recorded long-lived asset impairments and losses on disposals related to the portfolio restructuring, all of which were non-cash expenses [13] Q&A Session Summary Question: Restructuring costs increase - Management confirmed that restructuring costs have increased to about $40 million due to the addition of more practices to be exited [16] Question: Impact of office-based practice exits - The bulk of office exits are slated for the third and fourth quarters, with the full impact expected in 2025 [22] Question: Pricing growth momentum - Management indicated that payer mix played a slightly greater role in overall same unit pricing compared to contract and admin fees [30] Question: Growth perspective post-restructuring - The company is focused on stabilizing margins and moving towards growth, particularly in 2025, with unique opportunities in the 80:20 mix of services [34] Question: Discussions with managed Medicaid - Medicaid managed care represents a significant portion of the governmental mix, largely classified as pass-through from state Medicaid schedules [37]

Pediatrix Medical Group (MD) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 9.68%. A quarter ago, it was expected that this physician group would post earnings of $0.18 per share when it actually produced earnings of $0.20, delivering a surprise of 11.11%. Over the last four quarter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-12111 Pediatrix Medical Group, Inc. (Exact name of registrant as specified in its charter) Florida 26-3667538 (State or other ...

FOR MORE INFORMATION: Charles Lynch Senior Vice President, Finance and Strategy 954-384-0175, x 5692 charles.lynch@pediatrix.com FOR IMMEDIATE RELEASE Pediatrix Medical Group Reports Second Quarter Results FORT LAUDERDALE, Fla., August 6, 2024 - Pediatrix Medical Group, Inc. (NYSE: MD), a leading provider of physician services, today reported a loss of $1.84 per share for the three months ended June 30, 2024. On a non-GAAP basis, Pediatrix reported Adjusted EPS of $0.34. For the 2024 second quarter, Pediatr ...

A month has gone by since the last earnings report for Pediatrix Medical Group (MD) . Shares have lost about 15.9% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Pediatrix Medical Group due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Pediatrix Q1 Earnings Beat ...

Pediatrix Medical Group, Inc. (MD) reported first-quarter 2024 adjusted earnings per share (EPS) of 20 cents, which outpaced the Zacks Consensus Estimate by 11.1%.  However, the bottom line declined 13% year over year.Net revenues inched up 0.8% year over year to $495.1 million on the back of growth in same-unit revenues. Yet, the top line fell short of the consensus mark by a whisker.The quarterly results gained on the back of higher patient volumes and improved hospital contract administrative fees. Howev ...

Pediatrix Medical Group, Inc. (NYSE:MD) Q1 2024 Earnings Conference Call May 7, 2024 9:00 AM ET Company Participants Charles Lynch - SVP, Finance and Strategy James Swift - Chief Executive Officer Marc Richards - Executive Vice President and Chief Financial Officer Conference Call Participants Pito Chickering - Deutsche Bank Kevin Fischbeck - Bank of America Operator Ladies and gentlemen, thank you for standing by. Welcome to the Pediatrix Medical Group 2024 First Quarter Earnings Conference Call. At this t ...

Pediatrix Medical Group (MD) reported $495.1 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 0.8%. EPS of $0.20 for the same period compares to $0.23 a year ago.The reported revenue represents a surprise of -0.23% over the Zacks Consensus Estimate of $496.25 million. With the consensus EPS estimate being $0.18, the EPS surprise was +11.11%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations t ...