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Sep 30, 2023
CorVel Q2 2024 Earnings Report
CorVel's Q2 2024 earnings increased compared to the same quarter of the previous year.
Key Takeaways
CorVel Corporation announced revenues of $196 million and earnings per share of $1.15 for the quarter ended September 30, 2023. This represents an increase compared to the same quarter of the previous year, where revenues were $177 million and EPS was $0.83.
Revenues for the quarter were $196 million, up from $177 million in the same quarter of the previous year.
Earnings per share for the quarter were $1.15, compared to $0.83 in the same quarter of the prior year.
Balanced growth was seen in Network Solutions and Patient Management business.
CERIS experienced continued maturation of new services and workflow optimization.
CorVel
CorVel
Forward Guidance
The company expects increasing momentum over the next several quarters as transaction volume increases and additional components of new Payment Integrity services are optimized.
Positive Outlook
- Increasing momentum is expected over the next several quarters.
- Transaction volume is expected to increase.
- Additional components of new Payment Integrity services are optimized.
- Robust growth by adding services for existing partners and new bookings.
- Ongoing investments in technology, operational excellence, and quality of service are being well received in the market.
Challenges Ahead
- Risk that the impact of the COVID-19 pandemic on our business, results of operations and financial condition is greater than our initial assessment.
- Risks described in the company’s filings with the Securities and Exchange Commission.
- Factors described in this press release.
- Risk Factors in the Company’s Annual Report on Form 10-K for the year ended March 31, 2023
- The Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023.