Verra Mobility Q1 revenue $209.7M (+9% YoY); net income $29.1M; raises full-year guidance

VERRA MOBILITY Corp

2024-Q1 EPS reported $0.17 revenue$26,367,000

Revenue $209.7M (+9% YoY); net income $29.1M vs $4.6M; adjusted EPS $0.27 vs $0.26.
Commercial Services rev +12% to $95.9M; Government Solutions +10% to $94.2M; Parking Solutions -3% to $19.7M.
Adjusted EBITDA $92.8M (44% margin) vs $87.9M (46% margin) YoY.
Operating cash flow $34.3M; refinanced Term Loan to SOFR+2.75%, no quarterly principal payments.
Increased FY2024 guidance; PlusPass litigation resolved with $31.5M accrual paid in Q1.

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 first quarter ended March 31, 2024 results: revenue $209.7 million, net income $29.1 million, EPS $0.17 per share. Guidance raised.

Period: first quarter ended March 31, 2024
Revenue: $209.7 million
Net income: $29.1 million
EPS: $0.17 per share
Guidance: raised
Result: reported results

Exact text from the filing

Verra Mobility Announces First Quarter 2024 Financial Results • Total revenue of $209.7 million • Net income of $29.1 million • Generated cash flows from operations of $34.3 million • Increasing 2024 financial guidance

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Source: SEC EDGAR

accession 0000950170-24-052116

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