CorVel Q3 2023 Earnings Report
Key Takeaways
CorVel Corporation reported revenues of $179 million for the quarter ended December 31, 2022, up from $165 million in the same quarter of the previous year. Earnings per share increased to $0.96, compared to $0.76 in the prior year. The company saw record new sales in its Enterprise Comp book of business and continued investments in managed care services.
Revenues for the quarter increased to $179 million from $165 million in the same quarter last year.
Earnings per share for the quarter rose to $0.96, compared to $0.76 in the same quarter of the previous year.
Record new sales were achieved in the Enterprise Comp business serving the Workers’ Compensation market.
Continued investments in managed care services have driven growth in CorVel’s carrier business.
CorVel
CorVel
Forward Guidance
The development roadmap for the quarter and beyond includes increased automation and augmentation, which will further optimize bottom-line results and outcomes.
Positive Outlook
- Increased automation
- Increased augmentation
- Optimized bottom-line results
- Improved outcomes