R1 Completes Restatement Of Previously Issued Financial Statements; No Impact On R1's Cash, Business Operations Or 2023 Outlook
Portfolio Pulse from Benzinga Newsdesk
R1 RCM Inc. (NASDAQ:RCM) has completed the restatement of its previously issued financial statements for 2022, 2021, and the first two quarters of 2023. The restatement had no material impact on revenue or Adjusted EBITDA for 2022 and 2021, no impact on the first three quarters of 2023 results, and no effect on R1's cash, business operations, or 2023 outlook.
December 04, 2023 | 1:18 pm
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NEUTRAL IMPACT
R1 RCM Inc. has restated financial statements with no material impact on past or future financial results, maintaining its 2023 outlook.
The restatement of financial statements by R1 RCM Inc. typically would concern investors, but since the company confirmed there is no material impact on revenue, EBITDA, or its 2023 outlook, the short-term impact on the stock is likely neutral. The high relevance is due to the direct involvement of the company, and the importance is significant as financial restatements can affect investor trust. However, the confidence in a neutral impact is not absolute, as market reactions can be unpredictable.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100