MEDNAX, Inc. MD delivered fourth-quarter 2019 adjusted earnings of 91 cents per share, which beat the Zacks Consensus Estimate by 1.1%. However, the bottom line declined nearly 1.1% year over year.The company recorded growth in same unit revenues and lower expenses.MEDNAX, Inc. Price, Consensus and EPS Surprise MEDNAX, Inc. price-consensus-eps-surprise-chart | MEDNAX, Inc. QuoteFull-Year HighlightsOperating income per share of $3.38 outpaced the Zacks Consensus Estimate of $3.36 by 0.6%. However, the bottom line decreased 4.8% from 2018.Revenues of $3.5 billion were in line with the Zacks Consensus Estimate but increased 1.7% from 2018.Quarterly DetailsThe company generated revenues of $905 million, which beat the Zacks Consensus Estimate by 0.4%. However, the top line was down 3% from the year-ago period. Same unit revenues increased 2.3% year over year, mainly driven by recent buyouts. However, this upside was offset by the non-renewal of a few contracts.General and administrative expenses declined 8.2% to $96.9 million.Interest expense of the company escalated 9.1% to $27.7 million, primarily due to higher effective interest rate on borrowings between two periods.In the quarter under review, EBITDA totaled $132.2 million, up nearly 1.5%.The company paid a total of $82.6 million in the reported quarter to fund acquisitions and to make contingent purchase price payments for previously completed acquisitions and $6.9 for capital expenditures.Financial UpdateAs of Dec 31, 2019, the company had cash and cash equivalents of about $112.8 million, up 147.9% from year-end 2018.The company incurred total debt of $1.75 billion, down 12.5% from 2018-end level and total assets of $4.1 billion, down 30.2% from the level at 2018 end.Cash flow from operating activities was $127.6 million, up 3.1% year over year.First-Quarter GuidanceFor the first quarter of 2020, the company expects adjusted EPS to be in the band of 55-63 cents. Mednax projects adjusted EBITDA in the range of $90-$100 million.This guidance assumes total same-unit revenue growth for the three months ended Mar 31, 2020 to be in the range of 2% to 4%.Shares outstanding are predicted to be around 84.5 million.Preliminary 2020 GuidanceOn a preliminary basis, the company estimates adjusted EBITDA to be in the band of $450-$490 million.The company estimates an effective tax rate of 27%. Average diluted shares for the full-year are expected to be approximately 85 million.Zacks RankMEDNAX currently carries a Zacks Rank #5 (Strong Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Upcoming Medical Sector ReleasesAduro Biotech, Inc. ADRO is set to report fourth-quarter earnings on Feb 26. The stock has a Zacks Rank of 1.Adaptive Biotechnologies Corporation ADPT is slated to announce fourth-quarter earnings on Feb 26. The stock has a Zacks Ranks #3.Nevro Corp. NVRO is set to report fourth-quarter earnings on Feb 25. It has a Zacks Rank #2.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.Click here for the 6 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MEDNAX, Inc. (MD): Free Stock Analysis Report Adaptive Biotechnologies Corporation (ADPT): Free Stock Analysis Report Aduro Biotech, Inc. (ADRO): Free Stock Analysis Report Nevro Corp. (NVRO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research