Lumexa Imaging (NASDAQ:LMRI) Announces Earnings Results

Lumexa Imaging (NASDAQ:LMRI) released its earnings results on Tuesday. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.19, FiscalAI reports. The firm had revenue of $271.97 million for the quarter.

Here are the key takeaways from Lumexa Imaging’s conference call:

• Q3 systemwide volume grew 4% year over year, with advanced modalities up 8.1% and reaching a record 38.2% of scans. Consolidated revenue was $272 million, while adjusted EBITDA rose 11% sequentially to $62.6 million and margin improved to 23.0%.
• Free cash flow improved to $20.6 million from negative $1.8 million a year earlier, supported by earnings growth, lower interest payments, and more favorable working-capital and JV distribution timing. Management now expects full-year free cash flow conversion of at least 30% of adjusted EBITDA.
• The company narrowed its 2026 adjusted EBITDA guidance to $236 million–$240 million, maintaining the $238 million midpoint, and raised adjusted EPS guidance to $0.86–$0.90, primarily due to a lower assumed tax rate. Revenue guidance was reiterated at $1.045 billion–$1.097 billion.
• Lumexa said the finalized 2027 site-neutral reimbursement rule expands its addressable market from $33 billion to roughly $77 billion, creating a longer-term opportunity to support health systems’ outpatient imaging strategies. It also announced an expanded Advocate Health joint venture that takes the company into Illinois.
• Management’s preliminary assessment is that 2027 Medicare reimbursement will be modestly below its longstanding assumptions—approximately 1% lower—though it expects the overall impact to be limited because Medicare represents about 20% of revenue and most commercial rate negotiations are complete.

Lumexa Imaging Stock Performance

Shares of NASDAQ:LMRI traded down $0.05 on Tuesday, hitting $13.92. 384,556 shares of the company were exchanged, compared to its average volume of 679,031. The company’s 50 day moving average price is $11.20 and its two-hundred day moving average price is $11.07. The firm has a market capitalization of $1.34 billion and a price-to-earnings ratio of -28.41. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.44 and a current ratio of 1.44. Lumexa Imaging has a one year low of $6.45 and a one year high of $19.45.

Wall Street Analyst Weigh In

LMRI has been the subject of several research analyst reports. KeyCorp initiated coverage on Lumexa Imaging in a research report on Thursday, September 24th. They set an “overweight” rating and a $18.00 price objective for the company. Barclays increased their target price on Lumexa Imaging from $9.00 to $13.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Raymond James Financial set a $17.00 target price on Lumexa Imaging in a report on Monday, September 28th. Truist Financial started coverage on Lumexa Imaging in a research report on Monday, October 5th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Lumexa Imaging in a report on Tuesday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Lumexa Imaging currently has an average rating of “Buy” and an average target price of $16.40.

Institutional Investors Weigh In On Lumexa Imaging

A number of institutional investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Lumexa Imaging in the first quarter valued at $38,000. State of Alaska Department of Revenue acquired a new stake in Lumexa Imaging during the third quarter worth $46,000. PNC Financial Services Group Inc. acquired a new stake in Lumexa Imaging during the first quarter worth $63,000. State of Wyoming bought a new stake in Lumexa Imaging in the 1st quarter valued at $91,000. Finally, AXQ Capital LP bought a new stake in Lumexa Imaging in the 2nd quarter valued at $128,000.

About Lumexa Imaging

Lumexa Imaging operates outpatient diagnostic imaging centers that provide radiology services to patients, referring physicians and healthcare providers. Its services include imaging used to help diagnose and monitor a range of medical conditions. The company offers diagnostic procedures such as MRI, CT, PET/CT, mammography, ultrasound and X-ray through its imaging centers and affiliated radiology practices. Lumexa serves communities across the United States, providing an outpatient option for medical imaging outside of a hospital setting.