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Jun 30, 2021
Modivcare Q2 2021 Earnings Report
Modivcare's financial performance increased in Q2 2021, driven by revenue growth and strategic acquisitions.
Key Takeaways
ModivCare reported a strong second quarter in 2021, marked by a 68.1% increase in revenue to $474.4 million compared to the same period last year. The company's income from continuing operations was $13.8 million, or $0.97 per diluted common share, and Adjusted EPS was $2.13. ModivCare also made significant acquisitions and partnerships to expand its supportive care solutions.
Revenue increased by 68.1% to $474.4 million compared to Q2 2020.
Income from continuing operations, net of tax, was $13.8 million, or $0.97 per diluted common share.
Adjusted EPS was $2.13.
The company completed repurchases of common stock during the quarter of $24.6 million.
Forward Guidance
ModivCare expects its recent acquisitions of CareFinders Total Care LLC and VRI Intermediate Holdings, LLC to close in the third quarter of 2021 and to be meaningfully accretive to ModivCare earnings and cash flow on a combined basis.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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