Pediatrix Medical Group, Inc. (NYSE:MD) Q4 2023 Results Conference Call February 20, 2024 9:00 AM ET

Company Participants

Charles Lynch - SVP, Finance & Strategy

Jim Swift - CEO

Marc Richards - CFO

Conference Call Participants

Jack Senft - William Blair

Pito Chickering - Deutsche Bank

Brian Tanquilut - Jefferies

Kevin Fischbeck - Bank of America

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the 2023 Fourth Quarter Earnings Conference Call. [Operator Instructions]. As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Charles Lynch. Please go ahead.

Charles Lynch

Thank you, operator, and good morning, everyone. I'll quickly read our forward-looking statements and then turn the call over to Jim.

Certain statements and information during this conference call may be deemed to be forward-looking statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions and assessments made by pediatrics' management in light of their experience and assessment of historical trends, current conditions, expected future developments and other factors they believe to be appropriate.

Any forward-looking statements made during this call are made as of today, and Pediatrix undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the company's filings with the SEC, including the sections entitled Risk Factors.

In today's remarks by management, we will be discussing non-GAAP financial metrics. A reconciliation of these non-GAAP financial measures to the most comparable GAAP measures can be found in this morning's earnings press release our quarterly reports on Form 10-Q and our annual report on Form 10-K and on our website at www.pediatrix.com.

With that, I'll turn the call over to our CEO, Dr. Jim Swift.

Jim Swift

Thank you, Charlie, and good morning, everyone. Also with me today is Marc Richards, our Chief Financial Officer. Our fourth quarter results were within the revised expectations we provided in November. -- our overall same-unit volumes reflected strength within our office-based maternal field medicine services, partially offset by lower volumes in our hospital-based services.

Notably, these comparisons are against very strong volumes in the prior year quarter. Our underlying same-unit pricing was also stable, absent certain distortions from last year's fourth quarter that Marc will detail.