Verra Mobility Q1 revenue up 13% to $191.9M; Adjusted EPS $0.26 vs $0.22

VERRA MOBILITY Corp

2023-Q1 EPS reported $0.03 revenue$24,346,000

Total revenue $191.9M, +13% YoY; service revenue grew 15%.
Net income $4.6M ($0.03 diluted EPS) vs $10.0M ($0.06); includes $2.8M loss on interest rate swap.
Adjusted EPS $0.26 vs $0.22; Adjusted EBITDA $87.9M (46% margin) vs $75.3M (44%).
Segments: Commercial Services +17% to $85.6M; Government Solutions +9% to $85.9M; Parking +12% to $20.3M.
Reaffirmed 2023 guidance; generated $45.2M cash from operations.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VERRA MOBILITY Corp reported for the quarter ended March 31, 2023 results: revenue $191.9 million, net income $4.6 million, EPS $0.03 per share. Guidance reaffirmed.

Period: for the quarter ended March 31, 2023
Revenue: $191.9 million
Net income: $4.6 million
EPS: $0.03 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Verra Mobility Announces First Quarter 2023 Financial Results • Total revenue of $191.9 million • Net income of $4.6 million • Generated cash flows from operations of $45.2 million • Reaffirming 2023 guidance

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Source: SEC EDGAR

accession 0000950170-23-017897

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