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Dec 31, 2023
Modivcare Q4 2023 Earnings Report
Reported financial results for the three months and full year ended December 31, 2023.
Key Takeaways
Modivcare's Q4 2023 revenue increased by 7.5% to $702.8 million compared to Q4 2022. The company reported a net loss of $5.3 million, or $0.37 per diluted common share. Adjusted EPS was $1.29. The revenue growth was driven by a 12.7% increase in total paid trips in our NEMT segment, partially offset by a 5.5% decrease in average monthly members.
Service revenue of $702.8 million, a 7.5% increase as compared to the fourth quarter of 2022.
Net loss of $5.3 million, or $0.37 per diluted common share.
Adjusted EPS of $1.29 per diluted common share.
Won $216.2 million of NEMT TCV during the fourth quarter of 2023.
Forward Guidance
Modivcare's 2024 revenue is projected to be between $2.7 billion and $2.9 billion and adjusted EBITDA is projected to be between $190 million and $210 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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