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ModivCare (MODV)
NASDAQ:MODV
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Earnings Data
Report Date
Feb 21, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.69Last Year’s EPS
$1.29Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -30.15%
|Next Earnings Date:Feb 21, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a mix of positive operational improvements and revenue growth alongside significant challenges, particularly in the Medicare Advantage market and debt management. While strategic initiatives have led to cost savings and contract wins, the company faces ongoing financial pressures and market headwinds.Company Guidance
During ModivCare's third quarter 2024 earnings call, the company provided guidance indicating an adjusted EBITDA range of $170 million to $180 million for the year. This guidance reflects strategic repricing in the Non-Emergency Medical Transportation (NEMT) segment aimed at maintaining and expanding key customer relationships. ModivCare expects a 10% increase in adjusted EBITDA for 2025, driven by membership growth, new contract wins, cost savings, and strategic initiatives. Notably, the company plans to transition many shared risk NEMT contracts to fee-for-service arrangements, which will impact cash flow normalization over the next two to three quarters. ModivCare anticipates settling a significant portion of its $110 million contract receivables and $47 million contract payables by mid-2025. Additionally, the company has successfully renegotiated to reduce contract receivable builds by 40% through increased upfront payments.Revenue Growth and EBITDA
Third quarter 2024 revenue increased 2% year-over-year to $702 million, driven by 5% growth in Personal Care Services and 1% growth in Non-Emergency Medical Transportation (NEMT). Adjusted EBITDA was $43 million, reflecting continued operational improvements.
Contract Wins and Renewals
During the third quarter, ModivCare won $12 million of NEMT annual contract value, adding $81 million year-to-date. All state NEMT contracts were successfully renewed or extended this year.
Cost Savings and Operational Efficiency
The company realized $3 million of net cost savings in Q3, driven by strategic initiatives in the NEMT segment, resulting in a 25% reduction in payroll and other expense per trip over the last 18 months.
Successful Negotiations and Cash Flow Improvements
Negotiations with clients reduced contracts receivable build by 40% through increased upfront payments. The company collected $105 million in gross contract receivables during the quarter.
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MODV Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MODV Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $16.95 | $18.00 | +6.19% |
| Aug 07, 2024 | $19.49 | $23.11 | +18.57% |
| May 02, 2024 | $21.98 | $27.00 | +22.84% |
| Feb 22, 2024 | $43.87 | $26.62 | -39.32% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does ModivCare (MODV) report earnings?
ModivCare (MODV) is schdueled to report earning on Feb 21, 2025, TBA Not Confirmed.
What is ModivCare (MODV) earnings time?
ModivCare (MODV) earnings time is at Feb 21, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MODV EPS forecast?
MODV EPS forecast for the fiscal quarter 2024 (Q4) is $0.69.
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