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Sep 30, 2021
Modivcare Q3 2021 Earnings Report
Reported strong revenue growth driven by the acquisition of Simplura and increased trip volume in the NEMT business, but experienced a net loss due to higher service expenses and investments in employees and technology.
Key Takeaways
ModivCare reported a 53.8% increase in revenue to $493.1 million, driven by the Simplura acquisition and higher trip volume in NEMT. However, the company experienced a net loss of $7.5 million, or $0.53 per diluted share, due to increased service expenses and investments in employees and technology. Adjusted EBITDA was $44.3 million, and adjusted EPS was $1.63.
Revenue increased by 53.8% to $493.1 million compared to Q3 2020.
Loss from continuing operations was $7.5 million, or a loss of $0.53 per diluted common share.
Adjusted EBITDA was $44.3 million, with Adjusted Net Income of $23.0 million and Adjusted EPS of $1.63.
Net cash provided by operating activities was $174.7 million.
Forward Guidance
No specific forward guidance was provided in the provided text.
Historical Earnings Impact
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