MD 8-K

Pediatrix Medical Group, Inc. (MD)

8-K 2025-05-06 For: 2025-05-06

Added on April 10, 2026


Florida	001-12111	26-3667538
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1301 Concord Terrace
Sunrise, Florida		33323
(Address of Principal Executive Offices)		(Zip Code)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $.01 per share	MD	The New York Stock Exchange


			Pediatrix Medical Group, Inc.

Date:	May 6, 2025	By:	/s/ Kasandra H. Rossi
			Kasandra H. Rossi Chief Financial Officer


		Three Months Ended March 31, 2025
Hospital-based patient services		1.7%
Office-based patient services		2.6%

Neonatology services (within hospital-based services):
Neonatal intensive care unit (NICU) days		2.0%


	Three Months Ended March 31,
	2025			2024
Net revenue	$	458,359		$	495,101
Operating expenses:
Practice salaries and benefits		337,031			369,138
Practice supplies and other operating expenses		18,686			31,085
General and administrative expenses		58,604			60,198
Depreciation and amortization		5,332			10,308
Transformational and restructuring related expenses		6,605			8,480
Total operating expenses		426,258			479,209
Income from operations		32,101			15,892
Investment and other income		4,737			2,013
Interest expense		(9,154	)		(10,599	)
Equity in earnings of unconsolidated affiliate		406			518
Total non-operating expenses		(4,011	)		(8,068	)
Income before income taxes		28,090			7,824
Income tax provision		(7,353	)		(3,789	)
Net income	$	20,737		$	4,035
Other comprehensive income, net of tax
Unrealized holding gain on investments, net of tax of $255 and $20		779			60
Total comprehensive income	$	21,516		$	4,095
Per common and common equivalent share data (diluted):
Net income:	$	0.24		$	0.05
Weighted average common shares		85,430			83,275

FORM 8-K


	As of March 31, 2025		As of December 31, 2024
Assets:
Cash and cash equivalents	$	98,978	$	229,940
Investments		120,198		118,566
Accounts receivable, net		242,529		259,990
Other current assets		29,965		31,111
Intangible assets, net		10,387		11,595
Operating and finance lease right-of-use assets		39,866		39,267
Goodwill, other assets, property and equipment		1,451,556		1,462,231
Total assets	$	1,993,479	$	2,152,700
Liabilities and shareholders' equity:
Accounts payable and accrued expenses	$	234,173	$	398,690
Total debt, including finance leases, net		612,604		617,664
Operating lease liabilities		42,712		44,649
Other liabilities		314,802		326,759
Total liabilities		1,204,291		1,387,762
Total shareholders' equity		789,188		764,938
Total liabilities and shareholders' equity	$	1,993,479	$	2,152,700


	Year Ended December 31, 2025

Net income	$	106,210	$	120,810
Interest expense		36,870		36,870
Income tax provision		39,280		44,680
Depreciation and amortization expense		26,060		26,060
Transformational and restructuring related expenses		11,580		11,580
Adjusted EBITDA	$	220,000	$	240,000


	Three Months Ended March 31,
	2025					2024
Weighted average diluted shares outstanding	85,430					83,275
Net income and diluted net income per share	$	20,737		$	0.24	$	4,035	$	0.05
Adjustments (1):
Amortization (net of tax of $430 and $863)		1,290			0.01		2,589		0.03
Stock-based compensation (net of tax of $573 and $716)		1,720			0.02		2,146		0.03
Transformational and restructuring expenses (net of tax of $1,651 and $2,120)		4,954			0.06		6,360		0.08
Net impact from discrete tax events		(175	)		—		1,676		0.01
Adjusted income and diluted EPS	$	28,526		$	0.33	$	16,806	$	0.20