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Sep 30, 2024
Verra Mobility Q3 2024 Earnings Report
Verra Mobility reported solid third-quarter results, driven by strong revenue, earnings, and cash flow generation.
Key Takeaways
Verra Mobility announced its Q3 2024 financial results, posting a total revenue of $225.6 million and a net income of $34.7 million. The company saw growth in Commercial Services and Government Solutions, and increased its Adjusted Free Cash Flow guidance for the year.
Total revenue for the third quarter of 2024 was $225.6 million, an increase of 7% compared to the third quarter of 2023.
Net income for the third quarter of 2024 was $34.7 million, or $0.21 per share.
Adjusted EPS for the third quarter of 2024 was $0.32 per share compared to $0.29 per share for the third quarter of 2023.
Net cash provided from operations increased to $108.8 million.
Revenue by Segment
Forward Guidance
Verra Mobility reaffirmed its 2024 full-year guidance for Total Revenue, Adjusted EBITDA and Adjusted EPS and increasing Adjusted Free Cash Flow to the upper-end of the range.
Positive Outlook
- Total Revenue at the upper-end of the range of $865 million to $880 million
- Adjusted EBITDA at the upper-end of the range of $395 million to $405 million
- Adjusted EPS at the upper-end of the range of $1.15 to $1.20
- Adjusted Free Cash Flow at the upper-end of the range of $155 million to $165 million
- Net Leverage of approximately 2.0x
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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