Radnet Q4 2020 Earnings Report
Key Takeaways
RadNet's Q4 2020 results were the strongest in the company's history, with revenue increasing by 2.5% and adjusted EBITDA increasing by 8.1% compared to Q4 2019, despite the ongoing impact of COVID-19. The company's aggressive cost management and improved reimbursement contributed to the strong profitability during the quarter. The company had cash balance of $102.0 million.
Revenue increased by 2.5% compared to Q4 2019.
Adjusted EBITDA increased by 8.1% from the fourth quarter of 2019.
Adjusted diluted net income was $0.20 per diluted share compared to $0.19 per diluted share for the same period in 2019.
Mammography volume increased 11.7% from Q4 2019.
Radnet
Radnet
Forward Guidance
RadNet expects its business to continue to strengthen as COVID-19 restrictions are lifted and anticipates further benefit from cost reduction measures, increases in reimbursement, and expansion of joint venture initiatives.
Positive Outlook
- Strong recovery of procedural volumes.
- Significant impact from cost reduction programs.
- Potential for accretive tuck-in acquisitions.
- Further benefit from cost reduction measures implemented in 2020.
- Increases in reimbursement from private and capitated payors.