RCM - Why R1 RCM Stock Is Surging Today
Shares of the healthcare services company R1 RCM (NASDAQ: RCM) were up by a healthy 10.1% on higher-than-normal volume, as of 11:35 a.m. ET Thursday morning. The company's shares are marching higher in response to a better-than-expected 2022 fourth-quarter earnings report released ahead of today's opening bell.
Specifically, R1 RCM's 2022 fourth-quarter revenue topped Wall Street's consensus figure by 2.5%. Despite this modest top-line beat, however, the company still posted a GAAP net loss of $37.1 million for the three-month period.
As part of today's Q4 earnings report, R1 RCM also rolled out its 2023 revenue guidance. The company expects revenue of between $2.28 billion and $2.33 billion for the whole of 2023. The company's low-end revenue guidance exceeds Wall Street's street forecast by approximately $70 million. The top end of this revenue guidance is essentially in line with analysts' forecasts.
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Why R1 RCM Stock Is Surging Today