Modivcare Reports First Quarter 2024 Financial Results; Maintains Guidance
ModivCare Inc. (MODV)
Company Research
Source: Business Wire
DENVER--(BUSINESS WIRE)--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 2023Net loss of $22.3 million or $1.57 per diluted common shareAdjusted EBITDA(1) of $32.1 million, adjusted net loss(1) of $1.2 million and adjusted EPS(1) of negative $0.09 per diluted common shareCash provided by operating activities during the quarter of $9.6 million and free cash flow(2) of $1.7 millionContract receivables, net of contract payables, of $25.9 million as of March 31, 2024Won $171.2 million of NEMT total contract value (TCV) during first quarter 2024 ($36.4 million annual contract value (ACV)), with implementation beginning in the second quarter of 2024
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MODV
News
- One ModivCare Insider Raised Stake By 94% In Previous Year [Yahoo! Finance]Yahoo! Finance
- Working Capital Challenges Affected ModivCare (MODV) in Q1 [Yahoo! Finance]Yahoo! Finance
- Modivcare Releases 2023 Sustainability Report Highlighting Responsible Business Practices and Advancements in Environmental Management [Yahoo! Finance]Yahoo! Finance
- Modivcare Releases 2023 Sustainability Report Highlighting Responsible Business Practices and Advancements in Environmental ManagementBusiness Wire
- Modivcare to Present at Upcoming Investor Conferences [Yahoo! Finance]Yahoo! Finance
MODV
Earnings
- 5/2/24 - Miss
MODV
Sec Filings
- 6/12/24 - Form 8-K
- 5/23/24 - Form SC
- 5/22/24 - Form 8-K
- MODV's page on the SEC website