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Dec 31, 2021
Modivcare Q4 2021 Earnings Report
Reported strong financial results, driven by growth in revenue and adjusted EBITDA, and strategic acquisitions.
Key Takeaways
Modivcare reported a 44% increase in service revenue to $575.8 million for Q4 2021, driven by acquisitions and increased trip volume in the NEMT segment. The company experienced a net loss of $31.5 million, primarily due to a loss related to their Matrix investment. Adjusted EBITDA increased to $57.5 million, and adjusted EPS reached $2.11.
Service revenue increased by 44% to $575.8 million compared to Q4 2020.
Loss from continuing operations was $31.5 million, or a loss of $2.25 per common share, impacted by a $36.8 million loss related to the Matrix investment.
Adjusted EBITDA was $57.5 million, with adjusted net income at $29.8 million and adjusted EPS at $2.11.
Net cash provided by operating activities during the quarter was $12.1 million, with cash and cash equivalents finishing the year at $133.1 million.
Forward Guidance
Modivcare plans to expand its integrated supportive care platform, expecting to generate long-term growth and returns while maintaining a strong balance sheet.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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