Financial Data and Key Metrics Changes - The company reaffirmed its full-year 2024 outlook for adjusted EBITDA between $200 million and $220 million, indicating a focus on stabilizing margins compared to 2023 [3] - In Q1 2024, the company reported a cash flow usage of $123 million, compared to $101 million in Q1 2023, largely due to accounts receivable [62] Business Line Data and Key Metrics Changes - Maternal-fetal medicine volumes increased by approximately 3% in Q1 2024, while primary and urgent care volumes declined [16][57] - NICU days were up about 2.5% in Q1 2024, indicating stable demand in hospital-based services [26][57] Market Data and Key Metrics Changes - The company experienced a decline in non-same unit revenue for the quarter, down about $6.8 million, primarily due to ongoing disposition activities [28] - The accounts receivable DSO rose roughly a day and a half from the end of 2023, reflecting slight impacts from a healthcare incident and the RCM transition process [40] Company Strategy and Development Direction - The company has made a strategic decision to exit its primary and urgent care clinic platform, which includes about two dozen clinics in Florida, Texas, and Colorado, to focus on margin stabilization [6][39] - The company is undergoing an accelerated portfolio restructuring plan to exit underperforming office-based practices, aiming to improve profitability [39][55] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that the restructuring activities will enhance operational efficiency and support for practices, with significant impacts expected in the second half of the year [60][65] - The company anticipates that the financial impact of restructuring will be felt more in the second half of 2024, with Q2 expected to contribute 24% to 25% of the full-year adjusted EBITDA outlook [65][68] Other Important Information - The transition to a hybrid RCM model is progressing well, with a contract finalized with Guidehouse, and about one-third of affiliated practices transitioned as of now [13][64] - The company is focused on maintaining G&A expenses at levels comparable to or lower than 2023 as a percentage of revenue, despite internal additions to the RCM team [59] Q&A Session Summary Question: Outlook on volume and rate side of the business - Management indicated that the financial impacts from restructuring will affect results in the second half of the year, but it is premature to comment on 2025 growth [14][39] Question: Size of revenue impact from practice dispositions - Management confirmed that the practices being exited have negative EBITDA contributions, and the revenue impact will be tracked as the year progresses [52][23] Question: Growth algorithm for pediatrics post-restructuring - The focus will be on core services, with recent acquisitions in maternal-fetal medicine indicating a strategy for both organic and inorganic growth [32][39]

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 ...

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 March 31, 2024 (State or other jurisdiction of Incorporation or organization) 1301 Concord Terrace Sunrise, Florida 33323 (Address of principal executive offices) (Zip Code) Florida 26-3667538 (I.R.S. Employer Identification No.) (954) 384-0175 (Registrant's telephone number, including area code) OR ☐ TRANSI ...

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 First Quarter Results FORT LAUDERDALE, Fla., May 7, 2024 - Pediatrix Medical Group, Inc. (NYSE: MD), the nation's leading provider of highly specialized health care for women, children and babies, today reported earnings of $0.05 per share for the three months ended March 31, 2024. On a non-GAAP basis, Pediatrix reported Adjust ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the 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 jurisdiction (I.R.S. Employer of ...

Financial Data and Key Metrics Changes - The adjusted EBITDA for the quarter was approximately $15 million below internal forecasts, primarily due to practice-level operating expenses and soft patient volumes [3][34] - The full-year adjusted EBITDA outlook has been updated to a range of $200 million to $210 million, reflecting expectations for similar contributions in the fourth quarter as reported in the third quarter [4] Business Line Data and Key Metrics Changes - Year-over-year expense growth at the practice level was evenly split between salaries and incentive compensation, with underlying salary growth accelerating by roughly 100 basis points compared to the second quarter [54] Market Data and Key Metrics Changes - Same-unit pricing growth reflected year-over-year recovery in revenue collection rates and payor mix against a challenging quarter in 2022 [27] Company Strategy and Development Direction - The company plans to make structural changes in ambulatory practices to enhance earnings potential, addressing variances in financial performance across individual practices [22] - A decision has been made to transition to a new vendor for revenue cycle management services, aiming to combine internal teams with external efficiencies [24][60] - The focus will be on capital allocation priorities to build on core services, positioning the company favorably in the physician service industry [38] Management's Comments on Operating Environment and Future Outlook - Management acknowledged disappointing results due to soft patient volumes and persistent cost inflation, emphasizing the belief that current operating results do not reflect the company's full earnings potential [34] - The company is committed to addressing cost trends and making necessary changes to service line footprints to stabilize gross margins [36] Other Important Information - The company generated over $81 million in operating cash flow and repaid $40 million in revolver borrowings during the third quarter, ending the period with $21 million in cash [28] Q&A Session Summary Question: How are you addressing practice-level expenses? - Management is exploring levers such as adjusting clinician wage rates and seeking subsidies from hospitals to manage practice-level expenses [29][44] Question: What are the learnings from the previous RCM transition? - The management highlighted the importance of a hybrid model, combining internal teams for front-end functions with external vendors for back-end efficiencies [60] Question: What drove the headwind in non-same-store revenue? - The company noted that the review of the portfolio and footprint contributed to the net negative in non-same-unit revenue [62]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q 1301 Concord Terrace Sunrise, Florida 33323 (Address of principal executive offices) (Zip Code) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 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 ...

Company Operations - Pediatrix provides physician services across 37 states, focusing on neonatal and maternal-fetal care, and ceased operations in Puerto Rico as of December 31, 2022[60]. Financial Performance - Net revenue attributable to continuing operations was $500.6 million for the three months ended June 30, 2023, an increase of $14.6 million, or 3.0%, compared to $486.0 million for the same period in 2022[83]. - Same-unit net revenue increased by $15.3 million, or 3.2%, driven by a $12.5 million increase from net reimbursement-related factors and a $2.8 million increase related to patient service volumes[83]. - Net revenue for the six months ended June 30, 2023, was $991.6 million, an increase of $23.3 million, or 2.4%, compared to $968.3 million for the same period in 2022[95]. - Income from continuing operations was $28.3 million for the three months ended June 30, 2023, compared to $30.7 million for the same period in 2022[92]. - Income from operations attributable to continuing operations decreased by $10.8 million, or 12.0%, to $78.5 million for the six months ended June 30, 2023, compared to $89.3 million for the same period in 2022[101]. Expenses and Costs - Practice salaries and benefits increased by $23.2 million, or 7.0%, to $354.0 million for the three months ended June 30, 2023, compared to $330.8 million for the same period in 2022[84]. - Practice salaries and benefits for the six months ended June 30, 2023, increased by $42.4 million, or 6.3%, to $716.3 million compared to $673.9 million for the same period in 2022[96]. - General and administrative expenses decreased by $3.2 million to $58.0 million for the three months ended June 30, 2023, representing 11.6% of net revenue, down from 12.6% in the same period in 2022[86][87]. - General and administrative expenses for the six months ended June 30, 2023, were $117.1 million, a decrease of $5.4 million from $122.5 million for the same period in 2022[98]. - Adjusted EBITDA from continuing operations was $59.1 million for the three months ended June 30, 2023, down from $65.6 million for the same period in 2022[92]. - Adjusted EBITDA from continuing operations was $99.2 million for the six months ended June 30, 2023, down from $116.2 million for the same period in 2022, primarily due to decreased CARES Act relief and higher operating expenses[104]. Cash Flow and Liquidity - Cash flow from accounts receivable increased by $28.9 million for the six months ended June 30, 2023, compared to a decrease of $16.0 million for the same period in 2022, indicating improved cash collections[110]. - Days sales outstanding (DSO) improved to 49.2 days at June 30, 2023, down from 58.2 days at June 30, 2022, reflecting better cash collection efficiency[111]. - As of June 30, 2023, the company had $5.8 million in cash and cash equivalents, down from $9.8 million at December 31, 2022, while working capital increased to $77.4 million from $1.0 million[106]. - Net cash provided by financing activities was $29.6 million for the six months ended June 30, 2023, primarily from net borrowings on the Revolving Credit Line[113]. - The outstanding principal balance on the Amended Credit Agreement was $275.4 million as of June 30, 2023, with $409.0 million available under the agreement[118]. - The company anticipates that funds generated from operations will be sufficient to finance working capital requirements and fund anticipated acquisitions for at least the next 12 months[123]. Regulatory and Economic Factors - During Q2 2023, the percentage of patient service revenue reimbursed under government-sponsored healthcare programs remained stable compared to Q2 2022, but potential shifts could occur due to economic changes[61]. - 39 states and the District of Columbia have expanded Medicaid eligibility under the ACA, which could affect reimbursements for services provided by Pediatrix[73]. - The No Surprises Act limits out-of-network billing, potentially impacting revenue recovery for services not contracted with insurers[62]. - Changes to Medicaid programs and payment structures could materially affect Pediatrix's financial condition and results of operations[71]. - Future legislative changes to the ACA and GHC Programs could have a material adverse effect on Pediatrix's financial condition and trading price of securities[70]. - The company faces uncertainties regarding the impact of COVID-19 on demand for medical services, although volumes have normalized since mid-2020[75]. Taxation - The tax rate decreased from 28.2% in the first half of 2022 to 27.3% in the first half of 2023, attributed to an increase in income from continuing operations before income taxes[103]. Interest Rate Sensitivity - A 1% change in interest rates would impact income before taxes by approximately $2.8 million per year based on the outstanding balance of $275.4 million on the Amended Credit Agreement[125].

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 March 31, 2023 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 othe ...

Pediatrix Medical Group, Inc. (NYSE:MD) Q4 2022 Earnings Conference Call February 17, 2023 9:00 AM ET Company Participants Charles Lynch ??? Senior Vice President, Finance and Strategy Mark Ordan ??? Executive Chair Jim Swift ??? Chief Executive Officer Marc Richards ??? Chief Financial Officer Conference Call Participants Jack Senft ??? William Blair AJ Rice ??? Credit Suisse Pito Chickering ??? Deutsche Bank Whit Mayo ??? SVB Securities Kevin Fischbeck ??? Bank of America Rishi Parekh ??? JPMorgan Tao Qi ...