ModivCare Inc
MODV
ISIN US60783X1046 / Valor 59168951
ModivCare Inc
UMushroom community rating:
About company
ModivCare Inc, formerly known as LogistiCare Solutions, LLC, is a company that focuses on providing non-emergency medical transportation services to individuals who require assistance in getting to and from medical appointments. The company ensures compliance with applicable Federal civil rights laws and offers free language interpreter services to individuals whose primary language is not English. ModivCare aims to eliminate discrimination based on race, color, national origin, age, disability, or sex in the provision of its services.
Summarized from source with an LLMView SourceSector: HealthcareLatest Results (07.08.2024):
Revenue Growth
For the first quarter of 2024, ModivCare Inc. reported revenue of $684.5 million, marking a 3.3% increase from $662.3 million in the first quarter of 2023. This growth was driven by increases across its NEMT, PCS, and RPM segments.
Net Loss
ModivCare Inc. experienced a net loss of $22.3 million, or $1.57 per diluted common share, in the first quarter of 2024. This is a significant increase from the net loss of $4.0 million, or $0.28 per diluted common share, reported in the same period of the previous year.
Adjusted EBITDA
Adjusted EBITDA for ModivCare Inc. in the first quarter of 2024 was $32.1 million, or 4.7% of revenue. This represents a decrease from $50.2 million, or 7.6% of revenue, in the first quarter of 2023, primarily due to higher service expenses.
Cash Flow
During the first quarter of 2024, ModivCare Inc. generated $9.6 million in cash from operations, compared to $2.7 million used in operations during the same period in 2023. This improvement was influenced by changes in operating assets and liabilities, including contract receivables and payables.
Guidance
ModivCare Inc. maintained its revenue and adjusted EBITDA guidance for the fiscal year 2024, projecting revenue between $2,700 million and $2,900 million and adjusted EBITDA between $190 million and $210 million. This guidance excludes the effects of any future merger or acquisition activity.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
666 M
Market cap (USD)
45,344
Daily traded volume (Shares)
15.76 / 15.41
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
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P/E ratio
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EPS (USD)
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Ratings & reviews
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