ModivCare Q1 revenue up 3.3% to $684.5M, net loss $22.3M; maintains FY guidance

ModivCare Inc

2024-Q1 EPS reported -$1.57 revenue$684,451,000

Service revenue $684.5M (+3.3% YoY); net loss $22.3M ($1.57 diluted EPS).
Adjusted EBITDA $32.1M; adjusted net loss $1.2M; adjusted EPS -$0.09.
Operating cash flow $9.6M; free cash flow $1.7M.
Won $171.2M TCV in NEMT contracts in Q1; implementations start Q2 2024.
Company reaffirms full-year 2024 guidance (no specific numbers provided).

item 2.02 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

ModivCare Inc reported the three months ended March 31, 2024 results: revenue $684.5 million, net income $22.3 million, EPS $1.57 per diluted common share. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Revenue: $684.5 million
Net income: $22.3 million
EPS: $1.57 per diluted common share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Modivcare Reports First Quarter 2024 Financial Results; Maintains Guidance Denver, CO – May 2, 2024 – Modivcare Inc. (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today reported financial results for the three months ended March 31, 2024. First Quarter 2024 Summary: • Service revenue of $684.5 million increased 3.3% from the first quarter of 2023 • Net loss of $22.3 million or $1.57 per diluted common share

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Source: SEC EDGAR

accession 0001220754-24-000033

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