Published on 23 Apr 2024 on GuruFocus.com via Yahoo Finance
Revenue: Reported $1,146.1 million, up 12.8% year-over-year, surpassing estimates of $1,101.75 million.Net Income: Reached $44.8 million, a 14.2% increase from the previous year, exceeding the estimated $41.87 million.Earnings Per Share (EPS): Achieved $0.26, compared to $0.21 in the prior year, surpassing the estimated $0.23.Gross Profit: Grew to $238.5 million, representing 20.8% of net revenue, though the gross margin percentage decreased from 22.5% last year.Adjusted EBITDA: Increased by 4.8% to $98.3 million from $93.8 million in the previous year.Cash Flow from Operations: Reported a negative $68.8 million, a significant shift from a positive $89.8 million in the prior year, primarily due to the Change Healthcare cybersecurity incident.Stock Repurchases: Completed approximately $40.0 million in stock repurchases during the quarter.
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