MODV - ModivCare Non-GAAP EPS of $1.42 misses by $0.07 revenue of $662.3M beats by $35.27M

2023-05-04 06:48:41 ET

• ModivCare press release ( NASDAQ: MODV ): Q1 Non-GAAP EPS of $1.42 misses by $0.07 .
• Revenue of $662.3M (+15.3% Y/Y) beats by $35.27M .
• Net cash used in operating activities during the quarter of $2.7 million
• Cash and cash equivalents of $12.8 million as of March 31, 2023, with $1.0 billion principal amount of debt outstanding related to the Senior Unsecured Notes due 2025 and 2029
• $15.0 million drawn on the $325.0 million revolving credit facility as of March 31, 2023

• We maintained our 2023 revenue and our Adjusted EBITDA guidance range as follows ($ in millions):

• Revenue is expected between of $2,575 to $2,600 vs $2.59B Consensus

• Adjusted EBITDA of $225 to $235

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