Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
CareMax (CMAXQ)
OTHER OTC:CMAXQ
Holding CMAXQ?
Track your performance easily
Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-7.17Last Year’s EPS
-124.53Same Quarter Last Year
Based on 0 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 15, 2021
|% Change Since: -99.50%
|Next Earnings Date:Aug 13, 2021
Earnings Call Sentiment|Negative
The earnings call highlighted CareMax's success in meeting membership and revenue targets, implementing cost-saving initiatives, and maintaining high clinical quality. However, these positives were overshadowed by significant financial challenges, including negative adjusted EBITDA, increased medical expense ratios, and a large goodwill impairment. The company faces ongoing operational and strategic challenges as it seeks to optimize its business and improve financial performance.Company Guidance
During the CareMax Fourth Quarter 2023 earnings call, key guidance metrics included achieving membership targets with 111,500 Medicare Advantage members by year-end and meeting full-year revenue expectations despite challenges. Full-year adjusted EBITDA was negatively impacted by prior-year developments, increased flex card utilization, and higher-than-expected medical utilization. The management highlighted efforts to preserve earnings power and liquidity, including negotiating limited waivers on financial covenants and drawing the remaining $60 million of delayed-draw term loans. Cost-saving initiatives led to approximately $20 million in annualized cash savings, with workforce reductions contributing $15 million. CareMax's medical expense ratio for 2023 was 91.5%, with significant impacts from prior-year developments and flex card expenses. The company emphasized strategic operational changes and potential monetization of assets to maximize long-term value, while noting the goal of achieving a favorable inflection point in revenue and adjusted EBITDA by 2025.Membership and Revenue Targets Met
The company met its membership targets with 111,500 Medicare Advantage members by year-end and achieved its guidance on full-year revenue.
Cost-Saving Initiatives
CareMax implemented cost-saving initiatives amounting to approximately $20 million of annualized cash savings, including $15 million from workforce reductions and $5 million from center consolidations.
Clinical Quality Performance
CareMax centers achieved an aggregate 5-star quality rating for the third consecutive year, highlighting its commitment to high-quality care.
Strategic Growth in MSO
The company increased full-risk lives to about 35% of its MSO MA population, up from 15% in 2023, and is accountable for over $2 billion of annual health expenditures.
---
CMAXQ Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
CMAXQ Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $2.02 | $2.09 | +3.47% |
| Aug 09, 2024 | $4.54 | $2.99 | -34.14% |
| May 09, 2024 | $3.01 | $2.99 | -0.66% |
| Mar 18, 2024 | $5.54 | $4.24 | -23.47% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does CareMax (CMAXQ) report earnings?
CareMax (CMAXQ) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is CareMax (CMAXQ) earnings time?
CareMax (CMAXQ) earnings time is at Mar 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CMAXQ EPS forecast?
CMAXQ EPS forecast for the fiscal quarter 2024 (Q4) is -7.17.
---