NYSE$CTEV
Claritev Corp · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported first quarter results with revenues of $234.5 million and a net loss of $539.7 million.
MultiPlan reported Q1 2024 revenues of $234.5 million, a net loss of $539.7 million (including a $519.1 million impairment of goodwill and indefinite-lived intangible assets), and adjusted EBITDA of $146.8 million. The company identified potential medical cost savings of approximately $5.7 billion and repurchased or repaid $24.4 million of debt.
- Revenues for Q1 2024 were $234.5 million, a decrease of 0.9% compared to Q1 2023.
- Net loss for Q1 2024 was $539.7 million, compared to net income of $0.2 million for Q1 2023, primarily due to an impairment charge of $519.1 million.
- Adjusted EBITDA for Q1 2024 was $146.8 million, compared to $156.3 million for Q1 2023.
- Free Cash Flow of $19.2 million for Q1 2024, compared to Free Cash Flow of $41.1 million for Q1 2023.
Headline financials
Revenue & EPS history
Multiplan · Revenue · Quarterly
$235M
Forward guidance
The Company is maintaining its Full Year 2024 guidance.
Tailwinds
- Revenues: $1,000 million to $1,030 million
- Adjusted EBITDA: $630 million to $650 million
- Cash flow from operations: $170 million to $200 million
- Q2 2024 revenues between $235 million and $250 million
- Q2 2024 Adjusted EBITDA between $145 million to $160 million
Headwinds
- Interest expense: $320 million to $330 million
- Capital expenditures: $120 million to $130 million
- Depreciation: $80 million to $90 million
- Amortization of intangible assets: $345 million to $350 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 2024
-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 | — | — | — |
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