MODIVCARE INC Reports Fourth Quarter FY2022 Earnings Results for Period Ending February 23, 2023.
March 4, 2023
Earnings report
MODIVCARE INC ($NASDAQ:MODV), a leading provider of integrated software solutions for the healthcare industry, reported its earnings results for the fourth quarter of FY2022, ending February 23 2023 on December 31 2022. This quarter saw a substantial increase in revenue compared to the same period the previous year, with total revenue reported at USD -7.0 million, a 78.0% year over year increase.
Additionally, the company showed an impressive year over year improvement in their net income, which was USD 653.9 million, a 13.6% increase from the previous year’s figures. Overall, MODIVCARE INC is continuing to show strong financial performance in the current market environment. This quarter’s earnings results are an encouraging sign of the company’s momentum and long-term prospects for continued success.
Market Price
MODIVCARE INC reported its fourth quarter financial earnings results for the period ending February 23, 2023 on Thursday. The company’s stock opened at $103.2 and closed at $104.4, representing a 3.7% increase from the previous closing price of $100.6. This marked the highest closing price the company has seen since October 2022.
Furthermore, MODIVCARE INC announced plans to launch new products and services in the coming months, with the aim of further increasing its market position and presence. Overall, the company’s performance for the quarter suggests a promising outlook for its future growth prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Modivcare Inc. More…
| Total Revenues | Net Income | Net Margin |
| 2.5k | -31.81 | -1.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Modivcare Inc. More…
| Operations | Investing | Financing |
| -10.44 | -111.81 | 3.81 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Modivcare Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.94k | 1.59k | 25.19 |
Key Ratios Snapshot
Some of the financial key ratios for Modivcare Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 18.4% | 32.2% | 2.3% |
| FCF Margin | ROE | ROA |
| -1.7% | 10.1% | 1.8% |
Analysis
As part of GoodWhale’s analysis of MODIVCARE INC‘s wellbeing, our team found that the company is classified as a ‘cheetah’ on our Star Chart. This means that MODIVCARE INC has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. We also found that MODIVCARE INC is strong in growth, medium in profitability, and weak in asset and dividend. This makes the company attractive to certain investors who are looking for higher risk, higher return. Lastly, MODIVCARE INC has an intermediate health score of 6/10 considering its cashflows and debt structure. This means that the company might be able to pay off its current debt and fund future operations. More…
Peers
In the healthcare industry, there is intense competition between ModivCare Inc and its competitors: Humana AB, Mednax Inc, and Hanger Inc. These companies are all vying for a share of the market, and each has its own unique strengths and weaknesses. Humana AB is a large, international company that offers a wide range of services. Mednax Inc is a smaller company that specializes in maternal and child health. Hanger Inc is a publicly traded company that focuses on orthopedics.
– Humana AB ($LTS:0RF7)
Humana AB is a Swedish health insurance company with a market capitalization of 2.04 billion as of 2022. The company has a return on equity of 10.21%. Humana AB provides health insurance products and services to individuals, families, and businesses in Sweden. The company offers a range of health insurance products, including hospital, medical, and dental insurance. Humana AB also provides health and wellness services, such as health coaching and wellness programs.
– Mednax Inc ($NYSE:MD)
Mednax, Inc. is a national provider of maternal-fetal, newborn and pediatric clinical and anesthesia services. The Company operates through three segments: Physician Services, Ancillary Services and Other Services. The Company’s physician services include clinical care provided by its affiliated physicians and other clinicians to expectant mothers, newborn infants and pediatric patients in connection with their mothers’ pregnancies and deliveries, and neonatal intensive care unit (NICU) care. Ancillary services include diagnostic testing, pharmacy and ambulatory surgery center (ASC) operations. The Company’s other services include remote patient monitoring, patient engagement solutions and population health management services.
Summary
Investors are likely to be pleased with the recent financial performance of MODIVCARE INC. The company reported total revenue of USD -7.0 million for the period, a 78.0% increase from the previous year. Net income for the period also increased 13.6%, to USD 653.9 million.
These strong results have been reflected in the company’s stock price, which moved up on the day the results were released. With such a strong showing, investors may want to consider investing in MODIVCARE INC as a potential growth opportunity.
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