NASDAQ$MODVQ

Modivcare Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported strong financial results with revenue growth, solidifying position as a leading supportive care solutions provider.

Modivcare reported a revenue of $653.9 million, a 14% increase compared to Q4 2021. The company experienced a net loss of $6.9 million, but adjusted EPS reached $2.11. The results reflect growth in revenue and membership, alongside strategic efforts to consolidate operations and drive efficiencies.

  • Service revenue increased by 14% to $653.9 million compared to Q4 2021.
  • Net loss was $6.9 million, or $0.49 per diluted common share.
  • Adjusted EBITDA reached $59.7 million, with adjusted EPS at $2.11.
  • The company's personal care business grew by 12%.

Headline financials

Total Revenue

$654M

Previous: $576M+13.6%
EPS (adj)

$2.11

Previous: $2.11+0.0%
Capital Expenditures

$7.49M

Previous: $7.46M+0.3%
Free Cash Flow

-$63.5M

Previous: $4.68M-1455.3%
Net Income

-$6.95M

Previous: -$31.5M+78.0%
Operating Income

$6.62M

Previous: $20.3M-67.3%
Gross Profit

$120M

Previous: $131M-8.2%
Cash & Equivalents

$14.5M

Previous: $133M-89.1%
Total Assets

$1.94B

Previous: $2.03B-4.1%
Stock-Based Comp

$1.72M

Previous: $1.68M+2.4%

Revenue & EPS history

Modivcare · Revenue · Quarterly

$654M

Q4 2022+13.6%vs Q4 2021
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Forward guidance

Modivcare anticipates revenue between $2.575 billion and $2.600 billion and adjusted EBITDA between $225 million and $235 million for 2023.

Tailwinds

  • Revenue is expected to be between $2,575 million and $2,600 million.
  • Adjusted EBITDA is projected to be between $225 million and $235 million.
  • Guidance affirms confidence in continued growth this year.
  • Focus on building for scale and driving efficiencies.
  • Supportive care services are uniquely positioned to provide the highest quality.

Headwinds

  • Guidance excludes effects of future merger or acquisition activity.
  • Guidance is based on the current operating environment.
  • Potential risks related to government or private insurance program funding reductions.
  • Inability to control reimbursement rates received for services.
  • Effects of public health emergencies.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 6 quarterly earnings reports

Historical avg

+0.1%

Avg return

Earnings day

-10.6%

Avg return

5 days after

+29.9%

Avg return

30 days after

53%

33 / 62 earnings

Positive

+21.0%

Q1 2024

Best reaction

-41.0%

Q4 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2025
Q2 2025
Q1 2025-11.4%-26.5%+198.5%
Q4 2024-22.5%-35.9%-68.1%
Q3 2024+10.6%-0.7%+11.3%
Q2 2024+15.8%+18.8%+59.8%
Q1 2024+21.0%+18.5%+23.0%
Q4 2023-41.0%-37.7%-44.9%
Q3 2023+14.5%
Q2 2023-4.4%
Q1 2023-21.6%
Q4 2022-1.6%
Q3 2022-5.9%
Q2 2022+2.0%
Q1 2022-7.2%
Q4 2021+16.5%
Q3 2021-8.8%
Q2 2021-1.2%
Q1 2021+2.0%
Q4 2020-15.4%
Q3 2020+4.1%
Q2 2020+8.8%
Q1 2020+7.9%
Q4 2019-9.2%
Q3 2019+5.2%
Q2 2019+2.6%
Q1 2019+2.3%
Q4 2018+0.1%
Q3 2018+11.4%
Q2 2018-9.3%
Q1 2018-6.3%
Q4 2017+7.6%
Q3 2017+5.2%
Q2 2017+0.0%
Q1 2017+10.3%
Q4 2016+8.8%
Q3 2016-7.0%
Q2 2016-1.7%
Q1 2016-0.8%
Q4 2015+16.3%
Q3 2015-14.6%
Q2 2015-0.8%
Q1 2015+12.2%
Q4 2014+9.9%
Q3 2014-11.3%
Q2 2014+17.8%
Q1 2014-2.7%
Q4 2013-10.4%
Q3 2013-11.7%
Q2 2013+0.7%
Q1 2013+6.7%
Q4 2012+5.1%
Q3 2012+16.4%
Q2 2012-14.7%
Q1 2011-0.9%
Q1 2012+0.6%
Q4 2009-2.2%
Q4 2011-2.2%
Q3 2010-2.3%
Q3 2011-2.3%
Q2 2011+4.3%
Q2 2010+4.3%
Q4 2010+4.3%
Q1 2010+1.4%

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