NYSE$CTEV
Claritev Corp · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported first quarter results with revenues of $236.6 million and net income of $0.2 million.
MultiPlan Corporation reported a decrease in revenues, net income, and Adjusted EBITDA for Q1 2023 compared to Q1 2022, but saw a 3% increase in potential medical cost savings compared to Q4 2022. The company is focused on executing its Growth Plan and launching new products, expecting to accelerate growth in 2024 and beyond.
- Revenues for Q1 2023 were $236.6 million, a decrease of 20.6% compared to Q1 2022.
- Net income for Q1 2023 was $0.2 million, a decrease of 99.5% compared to Q1 2022.
- Adjusted EBITDA for Q1 2023 was $156.3 million, a decrease of 30.7% compared to Q1 2022.
- Identified potential medical cost savings of approximately $5.6 billion in Q1 2023, up 3% from Q4 2022.
Headline financials
Revenue & EPS history
Multiplan · Revenue · Quarterly
$237M
Forward guidance
The Company is reaffirming its Full Year 2023 guidance.
Tailwinds
- Revenues: $925 million to $975 million
- Adjusted EBITDA: $600 million to $650 million
- Cash flow from operations: $175 million to $215 million
- The Company anticipates Q2 2023 revenues between $220 million and $235 million
- The Company anticipates Q2 2023 Adjusted EBITDA between $140 million and $155 million
Headwinds
- Interest expense: $325 million to $340 million
- Capital expenditures: $100 million to $115 million
- Depreciation: $70 million to $75 million
- Amortization of intangible assets: $335 million to $345 million
- Effective tax rate 25% to 28%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-6.5%
Avg return
Earnings day
-5.1%
Avg return
5 days after
-3.8%
Avg return
30 days after
36%
9 / 25 earnings
Positive
+20.8%
Q1 2021
Best reaction
-32.8%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -8.8% | +7.7% | -2.6% | |
| Q4 2025 | -31.8% | -42.0% | -31.4% | |
| Q3 2025 | +11.8% | -5.4% | -45.2% | |
| Q1 2025 | +4.2% | +7.5% | +95.1% | |
| Q4 2024 | -32.8% | -28.1% | -24.8% | |
| Q3 2024 | -6.5% | -3.4% | -22.6% | |
| Q2 2024 | -23.9% | -10.2% | -47.8% | |
| Q1 2024 | +10.9% | -1.5% | -36.6% | |
| Q4 2023 | -0.9% | -13.4% | -27.6% | |
| Q3 2023 | -6.5% | -9.7% | -14.3% | |
| Q2 2023 | -8.9% | -14.0% | -17.8% | |
| Q1 2023 | -5.4% | +21.0% | +97.6% | |
| Q4 2022 | -10.2% | +10.0% | +6.0% | |
| Q3 2022 | -27.8% | -18.3% | -31.1% | |
| Q2 2022 | -12.4% | -13.4% | -33.1% | |
| Q1 2022 | +1.0% | +18.4% | +27.4% | |
| Q4 2021 | -8.0% | -18.9% | -14.4% | |
| Q3 2021 | +0.2% | -11.0% | -4.3% | |
| Q2 2021 | -6.2% | -10.5% | -20.6% | |
| Q1 2021 | +20.8% | +27.0% | +45.5% | |
| Q2 2020 | +0.5% | -0.2% | +1.9% | |
| Q4 2020 | -18.6% | -20.3% | -19.7% | |
| Q3 2020 | -4.6% | +0.7% | +20.8% | |
| Q1 2020 | +0.5% | +0.7% | +2.3% | |
| Q4 2019 | +0.5% | +0.7% | +2.3% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro