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Sep 30, 2020
Modivcare Q3 2020 Earnings Report
Reported revenue of $320.6 million, income from continuing operations of $38.9 million, and adjusted EPS of $2.69.
Key Takeaways
Providence Service Corporation reported a decrease in revenue but an increase in operating and net income for Q3 2020. The company's Adjusted EBITDA exceeded the prior year due to lower operating expenses. They also entered into an agreement to acquire Simplura Health Group.
Revenue of $320.6 million
Income from continuing operations, net of tax, of $38.9 million or $2.51 per diluted common share
Adjusted EBITDA of $55.3 million and Adjusted EPS of $2.69
Net cash provided by operating activities during the quarter of $140.0 million
Modivcare
Modivcare
Modivcare Revenue by Segment
Forward Guidance
The acquisition of Simplura Health Group is expected to close in the fourth quarter of 2020.