Mednax: 2Q Earnings Snapshot
SUNRISE, Fla. (AP) _ Mednax Inc. (MD) on Thursday reported a second-quarter loss of $8.2 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Sunrise, Florida-based company said it had a loss of 10 cents. Earnings, adjusted to account for discontinued operations and restructuring costs, were 89 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The physician group posted revenue of $868.3 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $867.7 million.
For the current quarter ending in October, Mednax expects its per-share earnings to range from 88 cents to 96 cents.
Mednax shares have fallen 26% since the beginning of the year. The stock has declined 43% in the last 12 months.