Benzinga | Nov 3, 2021 03:39PM EDT

Change Healthcare Reports Mixed Q2 Earnings; Refrains From Issuing Guidance Due To OptumInsight Deal

* Change Healthcare Inc's (NASDAQ:CHNG) Q2 FY22 sales increased 10% to $826.76 million, missing the consensus of $837.36 million.

* Solutions revenue was $774.2 million, up 10%, and Postage revenue sales increased 5% to $52.55 million.

* Solutions revenue includes the impact of fair value adjustments to deferred revenue resulting from the McKesson exit, which reduced revenue recognized by $3.3 million.

* The Company posted an adjusted EPS of $0.35, beating the consensus of $0.32.

* Adjusted EBITDA reached $246.5 million, compared with $231.8 million a year ago.

* The Company ended the quarter with approximately $80.4 million of cash and cash equivalents and about $4,662.4 million of total debt.

* The Company and UnitedHealth Group (NYSE:UNH) entered into an amendment to the Timing Agreement with the DOJ to complete the merger on February 22, 2022.

* Due to the proposed transaction with OptumInsight, the Company did not provide financial guidance.

* Price Action: CHNG shares are up 0.12% at $21.55 during the market session on the last check Wednesday.