MEDNAX, Inc. (MD - Free Report) delivered second-quarter 2019 adjusted earnings of 80 cents per share, beating the Zacks Consensus Estimate by 2.6%. However, the bottom line declined 19.2% year over year due to lower revenue stream.
The company generated revenues of $868 million, in line with the Zacks Consensus Estimate. Although the top line fell 5.2% from the year-ago period, mainly due to non-renewal of certain contracts, the same unit revenues inched up 1.1% year over year owing to volume expansion.
However, this upside was offset by the decrease in maternal-fetal medicine services.
General and administrative expenses were down 2.6% to $103.5 million.
Interest expense of the company escalated 43.8% to $31 million, primarily due to higher effective interest rate on the borrowings between two periods.
In the quarter under review, EBITDA totaled $131 million, down by nearly 9.8%.
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