Sep 30, 2020

CorVel Q2 2021 Earnings Report

CorVel's Q2 2021 earnings were announced, revealing a mix of financial results and strategic progress.

Key Takeaways

CorVel Corporation reported revenues of $136.03 million and earnings per share of $0.65 for the quarter ended September 30, 2020. The company highlighted the strength of its business fundamentals and the accelerated adoption of technology, particularly telehealth, which contributed to improved results.

Revenues for the quarter ended September 30, 2020, reached $136.03 million.

Earnings per share for the quarter ended September 30, 2020, were $0.65.

The company experienced an exponential increase in telehealth usage, leading to improved results.

CorVel has formed strategic alliances to improve healthcare payment operations and reduce inappropriate spending.

Total Revenue
$136M
Previous year: $147M
-7.4%
EPS
$0.22
Previous year: $0.23
-4.3%
Gross Profit
$30.5M
Previous year: $32.8M
-7.1%
Cash and Equivalents
$106M
Previous year: $97.9M
+8.3%
Free Cash Flow
$20.8M
Previous year: $10.6M
+96.6%
Total Assets
$442M
Previous year: $427M
+3.5%

CorVel

CorVel

Forward Guidance

While the document contains forward-looking statements, there is no specific financial guidance included.