Mednax: 2Q Earnings Snapshot
SUNRISE, Fla. (AP) _ Mednax Inc. (MD) on Thursday reported second-quarter profit of $79.4 million.
The Sunrise, Florida-based company said it had profit of 85 cents per share. Earnings, adjusted for amortization costs and stock option expense, were $1.07 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The physician group posted revenue of $915.9 million in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $913.8 million.
For the current quarter ending in October, Mednax expects its per-share earnings to range from 94 cents to 99 cents.
Mednax shares have decreased 20 percent since the beginning of the year. The stock has declined 6 percent in the last 12 months.