RadNet Q1 Earnings Exceed Expectations, Revises FY22 Guidance Levels Upwards

  • RadNet Inc RDNT reports Q1 FY22 revenue of $341.8 million, +8.4% Y/Y, beating the consensus of $330.41 million.
  • Revenue increased 8.2%, excluding Artificial Intelligence reporting segment.
  • Aggregate procedural volumes increased 8.8%; Same-center procedural volumes increased 6.6% Y/Y.
  • RadNet's adjusted EBITDA grew 4.1% Y/Y to $41.7 million, excluding losses from the AI reporting segment and Provider Relieve Funding.
  • The company posted an adjusted EPS loss of $(0.15), a turnaround from an EPS of 0.05 a year ago.
  • Dr. Howard Berger, president & CEO, commented, "Despite being impacted in January by the omicron variant of COVID-19, we produced the highest first-quarter revenue and adjusted EBITDA from our imaging center operations in our company's history." 
  • Guidance: RadNet expects FY22 sales of $1.36 billion - $1.41 billion, up from previous guidance of $1.35 billion - $1.4 billion, versus the consensus of $1.38 billion.
  • It expects an adjusted EBITDA of $208 million - $218 million, compared to earlier guidance of $205 million - $215 million.
  • Price Action: RDNT shares closed 4.86% lower at $19.00 on Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceHealth CareSmall CapGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!