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Stock impact report

Modivcare Reports Second Quarter 2022 Financial Results and Updates 2022 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 patient outcomes, today reported financial results for the three and six months ended June 30, 2022.Second Quarter 2022 Highlights:Revenue of $628.2 million, a 32.4% increase as compared to $474.4 million in Q2 2021Net income of $3.3 million or $0.24 per diluted common shareAdjusted EBITDA of $60.2 million, Adjusted Net Income of $28.1 million and Adjusted EPS of $1.992022 guidance increased to account for strong second quarter and year-to-date resultsNet cash used in operating activities during the quarter of $17.9 millionCash and cash equivalents of $88.0 million as of June 30, 2022, with $1,000.0 million principal amount of debt outstanding related to the Senior Unsecured Notes due 2025 and 2029Undrawn $325.0 million revolving credit facility as of June 30, 2 Show less Read more
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