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Dec 31, 2020
Modivcare Q4 2020 Earnings Report
ModivCare's financial performance reflected revenue growth driven by acquisitions and operational improvements, offset by pandemic-related impacts.
Key Takeaways
ModivCare reported Q4 2020 revenue of $398.5 million, a net loss of $2.9 million, and adjusted EPS of $0.98. The company's results were driven by acquisitions and operational improvements.
Revenue reached $398.5 million.
Loss from continuing operations was $2.9 million, or $0.21 per common share.
Adjusted EBITDA was $41.6 million, and Adjusted EPS was $0.98 per diluted common share.
Completed $500 million offering of Senior Unsecured Notes.
Modivcare
Modivcare
Forward Guidance
Looking ahead, ModivCare expects to capitalize on operational and technology investments in NEMT and build upon the Simplura platform in personal care through strategic acquisitions and organic initiatives.
Positive Outlook
- Expect to reap a return on the operational and technology investments we are making in our non-emergency medical transportation business (NEMT).
- Well positioned for longer term organic growth supported by favorable industry tailwinds, such as Medicaid and Medicare Advantage expansion
- The codification of the NEMT benefit which compels states to offer the benefit
- Adjacent market opportunities, notably our food delivery initiatives.
- Simplura is an excellent growth platform that we intend to build upon through a combination of strategic acquisitions and organic initiatives.