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Sep 30, 2022
Multiplan Q3 2022 Earnings Report
MultiPlan's Q3 2022 financial performance was impacted by decreased revenues and net income due to lower patient utilization of healthcare services.
Key Takeaways
MultiPlan reported Q3 2022 revenues of $250.5 million, a decrease of 13.1% compared to Q3 2021. Net income decreased by 74.8% to $19.7 million, and Adjusted EBITDA decreased by 21.2% to $172.2 million. The decline was primarily attributed to lower volumes and an unfavorable mix of identified potential medical cost savings.
Revenues for Q3 2022 were $250.5 million, a 13.1% decrease compared to Q3 2021.
Net income for Q3 2022 was $19.7 million, a 74.8% decrease compared to Q3 2021.
Adjusted EBITDA for Q3 2022 was $172.2 million, a 21.2% decrease compared to Q3 2021.
Free Cash Flow for Q3 2022 was $88.2 million, compared to $146.6 million for Q3 2021.
Forward Guidance
MultiPlan updated its Full Year 2022 guidance, anticipating revenues between $1,075 million and $1,090 million and Adjusted EBITDA between $765 million and $780 million. The company expects Q4 2022 revenues between $235 million and $250 million and Adjusted EBITDA between $155 million and $170 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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