Verra Mobility Q3 revenue $209.9M, +6% YoY; net income $30.3M; raises FY guidance; new $100M buyback

VERRA MOBILITY Corp

2023-Q3 EPS reported $0.34 revenue$75,782,000

Revenue $209.9M (+6% YoY); net income $30.3M ($0.18 diluted EPS) vs $24.6M ($0.15) prior year.
Adjusted EPS $0.29 vs $0.27; Adjusted EBITDA $97.4M (46% margin) vs $90.9M.
Commercial Services revenue +14% to $98.1M; Government Solutions +1%; Parking Solutions -2%.
Company raises full-year 2023 guidance (specific new numbers not disclosed in release).
Board approves new $100M share repurchase program over 18 months; prior $100M program completed.

item 2.02 item 5.03 item 7.01 item 8.01 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 the third quarter ended September 30, 2023 results: revenue $209.9 million, net income $30.3 million, EPS $0.18 per share. Guidance raised.

Period: the third quarter ended September 30, 2023
Revenue: $209.9 million
Net income: $30.3 million
EPS: $0.18 per share
Guidance: raised
Result: reported results

Exact text from the filing

99.1 to this Current Report on Form 8-K. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Verra Mobility Announces Third Quarter 2023 Financial Results • Total revenue of $209.9 million • Net income of $30.3 million • Generated cash flows from operations of $62.4 million • Renewed Enterprise Mobility Tolling contract • Increasing 2023 financial guidance • Board

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

VERRA MOBILITY Corp: Amended Bylaws to implement universal proxy rules and other procedural updates (effective 2023-11-08).

Change: bylaw amendment
Effective: 2023-11-08

Exact text from the filing

On November 8, 2023, as part of its periodic review of corporate governance matters, the Board of Directors (the “ Board ”) of the Company approved and adopted amendments to the Company’s Amended and Restated Bylaws (the “ Bylaws ”), which became effective immediately (the “ Bylaw Amendments ”).

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Source: SEC EDGAR

accession 0000950170-23-062035

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