Pediatrix Medical Group, Inc. (NYSE:MD) Q3 2024 Earnings Conference Call November 1, 2024 9:00 AM ET

Company Participants

Charles Lynch - Senior Vice President, Finance and Strategy
James Swift - Chief Executive Officer
Kasandra Rossi - Executive Vice President, Chief Financial Officer and Treasure

Conference Call Participants

Jack Senft - William Blair
Jack Slevin - Jefferies
A.J. Rice - UBS

Operator

Ladies and gentlemen, thank you for standing by and welcome to the 2024 Third Quarter's Earnings Conference. At this time all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] And as a reminder, this conference is being recorded.

I would now like to turn the conference over to our 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 we'll get into the call. 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 Pediatrix 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 measures. 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 our website at www.pediatrix.com.

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

James Swift

Thank you, Charlie and good morning, everyone. Also with me today is Kasandra Rossi, our Chief Financial Officer.

Our third quarter operating results were modestly ahead of expectations, driven primarily by same unit revenue growth. Similar to second quarter, payer mix provided a tailwind to our top line, although this did moderate toward the end of the quarter. Patient volumes were stable to positive across all of our core service lines compared to the third quarter of last year.