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Jun 30, 2022
CorVel Q1 2023 Earnings Report
CorVel's revenue and earnings were announced for the quarter ended June 30, 2022.
Key Takeaways
CorVel Corporation reported revenues of $176.31 million and earnings per share of $0.94 for the quarter ended June 30, 2022. Revenue increased compared to the same quarter of the previous year. The company focused on developing and optimizing systems to enhance team member efficiency and effectiveness.
Earnings per share for the quarter were $0.94, compared to $0.92 in the same quarter of the prior year.
Revenues for the quarter were $176.31 million, an increase from $152.62 million in the same quarter of the previous year.
Revenue growth in the year has been strong led by CERiS, in the payment integrity space.
The company focused on developing and optimizing systems to enhance team member efficiency and effectiveness.
CorVel
CorVel
Forward Guidance
All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company’s current expectations, estimates and projections about the Company, management’s beliefs, and certain assumptions made by the Company, and events beyond the Company’s control, all of which are subject to change.
Positive Outlook
- Commercial health-focused operation
- Improved productivity resulting from automation
- Augmentation across enterprise business systems
- Expansion within ancillary network
Challenges Ahead
- Impact of the COVID-19 pandemic on our business
- Results of operations
- Financial condition is greater than our initial assessment
- Risk Factors in the Company’s Annual Report on Form 10-K
- The Company’s Quarterly Report on Form 10-Q