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Jun 30, 2022
Modivcare Q2 2022 Earnings Report
Reported solid second quarter results with revenue growth driven by the non-emergency medical transportation business and increased 2022 guidance to account for strong performance.
Key Takeaways
Modivcare reported a revenue of $628.2 million, a 32.4% increase compared to Q2 2021. Net income was $3.3 million, or $0.24 per diluted common share. The company increased its 2022 guidance due to strong second quarter and year-to-date results.
Revenue of $628.2 million, a 32.4% increase as compared to $474.4 million in Q2 2021
Net income of $3.3 million or $0.24 per diluted common share
Adjusted EBITDA of $60.2 million and Adjusted EPS of $1.99
2022 guidance increased to account for strong second quarter and year-to-date results
Modivcare
Modivcare
Forward Guidance
The company updated its 2022 guidance and expects revenue between $2,375 million and $2,400 million, and adjusted EBITDA between $210 million and $220 million.