Modivcare Q4 2023 Earnings Report
Key Takeaways
Modivcare's Q4 2023 revenue increased by 7.5% to $702.8 million compared to Q4 2022. The company reported a net loss of $5.3 million, or $0.37 per diluted common share. Adjusted EPS was $1.29. The revenue growth was driven by a 12.7% increase in total paid trips in our NEMT segment, partially offset by a 5.5% decrease in average monthly members.
Service revenue of $702.8 million, a 7.5% increase as compared to the fourth quarter of 2022.
Net loss of $5.3 million, or $0.37 per diluted common share.
Adjusted EPS of $1.29 per diluted common share.
Won $216.2 million of NEMT TCV during the fourth quarter of 2023.
Modivcare
Modivcare
Forward Guidance
Modivcare's 2024 revenue is projected to be between $2.7 billion and $2.9 billion and adjusted EBITDA is projected to be between $190 million and $210 million.