Modivcare Reports Fourth Quarter and Full Year 2023 Financial Results; Issues 2024 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 suite of integrated supportive care solutions focused on improving patient outcomes, today reported financial results for the three months and full year ended December 31, 2023.Fourth Quarter 2023 Summary:Service revenue of $702.8 million, a 7.5% increase as compared to $653.9 million in the fourth quarter of 2022Net loss of $5.3 million, or $0.37 per diluted common shareAdjusted EBITDA(1) of $50.5 million, adjusted net income(1) of $18.4 million and adjusted EPS(1) of $1.29 per diluted common shareNet cash used in operating activities during the quarter of $25.6 million and negative free cash flow(2) of $36.8 million, primarily related to a delayed payment from a single clientContract receivables increased by $14.7 million to $144.0 million and contract payables decreased by $16.1 million to $117.5 million, resulting in net contra
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MODV
News
- Modivcare Reports First Quarter 2024 Financial Results; Maintains Guidance [Yahoo! Finance]Yahoo! Finance
- Modivcare Reports First Quarter 2024 Financial Results; Maintains GuidanceBusiness Wire
- Modivcare to Report First Quarter 2024 Financial Results [Yahoo! Finance]Yahoo! Finance
- Modivcare to Report First Quarter 2024 Financial ResultsBusiness Wire
- The past three years for ModivCare (NASDAQ:MODV) investors has not been profitable [Yahoo! Finance]Yahoo! Finance
MODV
Earnings
- 5/2/24 - Miss
MODV
Sec Filings
- 5/3/24 - Form 10-Q
- 5/2/24 - Form 8-K
- 4/30/24 - Form DEFA14A
- MODV's page on the SEC website