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Benzinga
Benzinga
Business
Vandana Singh

RadNet Q4 Topline, BottomLine Hit Due To Omicron Surge, FY22 Guidance In-Line With Consensus

RadNet
  • RadNet Inc (NASDAQ:RDNT) reports Q4 FY21 revenue of $333.2 million, +8% Y/Y, missing the consensus of $348.34 million.
  • Aggregate procedural volumes increased 11.4%; Same-center procedural volumes increased 7.3% Y/Y.
  • RadNet's adjusted EBITDA grew 7.5% Y/Y to $54.5 million.
  • The Company posted an adjusted EPS of $0.13, lower than $0.20 a year ago and missing the consensus of $0.19.
  • Howard Berger, President & CEO, said that an 8% increase in Q4 sales resulted from ongoing strong demand for services and the continuing migration of patient procedures from hospitals to free-standing ambulatory outpatient imaging centers. 
  • The Company noted that improvement in operating metrics during the quarter overshadowed the negative impact from the omicron surge, which reduced the revenue by over $4 million and adjusted EBITDA by approximately $3 million.
  • Guidance: RadNet expects FY22 sales of $1.35 billion - $1.4 billion, versus the consensus of $1.4 billion.
  • It expects an adjusted EBITDA of $205 million - $215 million.
  • Price Action: RDNT shares closed higher by 1.31% at $24.67 on Monday.
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