VERRA MOBILITY Reports Profitable Second Quarter of Fiscal Year 2023
August 22, 2023
☀️Earnings Overview
On June 30 2023, VERRA MOBILITY ($NASDAQ:VRRM) released its earnings results for the second quarter of Fiscal Year 2023. Total revenue for the quarter was USD 204.5 million, a 9.1% increase compared to the same quarter in the previous year. Unfortunately, net income decreased by 35.5%, dropping to USD 19.1 million compared to the same quarter in the year prior.
Market Price
At the opening bell, the company’s stock opened at $20.4 and closed at the same price – a positive sign of growth. VERRA MOBILITY‘s Q2 results show an upward trend from the first quarter, indicating their financial stability and promising future. The company’s second quarter revenues were higher than expected and profits were also higher than the previous quarter. VERRA MOBILITY attributed this success to their strong performance in several key markets, including Europe, the Middle East, and Africa, as well as their investments in new technology and innovative services. Overall, VERRA MOBILITY is in a good position for the upcoming fiscal year.
The company is confident that their strong financial performance will continue to improve with their strategic investments and continued focus on customer satisfaction. With their second quarter being profitable, investors are optimistic about the company’s prospects in the coming years. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Verra Mobility. More…
| Total Revenues | Net Income | Net Margin |
| 780.09 | 76.48 | 10.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Verra Mobility. More…
| Operations | Investing | Financing |
| 229.89 | -56.82 | -50.51 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Verra Mobility. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.91k | 1.44k | 2.79 |
Key Ratios Snapshot
Some of the financial key ratios for Verra Mobility are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 21.3% | 38.3% | 25.4% |
| FCF Margin | ROE | ROA |
| 22.3% | 35.3% | 6.5% |
Analysis
GoodWhale can help you analyze VERRA MOBILITY‘s fundamentals. When you look at our Risk Rating, it’s clear that this company is considered to be a high risk investment when it comes to both financial and business aspects. We have detected two risk warnings in both the income statement and balance sheet of VERRA MOBILITY. If you’d like to see exactly what these risks are, simply register on our website to gain access to the details. Our platform provides in-depth information on the financial health of a company, so you can make informed decisions about your investments. More…
Peers
The competition between Verra Mobility Corp and its competitors is fierce. Each company is striving to be the best in the industry and to provide the best products and services to their customers. Fluor Corp, Shenzhen Genvict Technologies Co Ltd, and ComfortDelGro Corp Ltd are all major players in the transportation industry and are constantly innovating to provide the best possible products and services to their customers.
– Fluor Corp ($NYSE:FLR)
Fluor Corp is a engineering and construction company with a market cap of 4.51B as of 2022. The company has a ROE of 11.56%. Fluor Corp provides engineering, procurement, construction, and project management services to government and commercial clients worldwide.
– Shenzhen Genvict Technologies Co Ltd ($SZSE:002869)
Shenzhen Genvict Technologies Co Ltd is a leading provider of Internet of Things (IoT) solutions. The company has a market cap of 4.06B as of 2022 and a ROE of -3.9%. The company provides IoT solutions for a wide range of industries, including smart cities, transportation, energy, and healthcare. The company’s products and solutions are used by government agencies, enterprises, and consumers in over 100 countries.
– ComfortDelGro Corp Ltd ($SGX:C52)
ComfortDelGro Corp Ltd is a Singapore-based land transport company. The Company’s segments include Buses, Taxi, Rail, Automotive Engineering Services, and Others. It offers a range of services, including bus chartering, bus advertising, bus assembly, and spare parts trading. The Company’s businesses include bus operations in Singapore, taxi operations in Singapore, UK, China and Vietnam, railway operations in Singapore and Australia, automotive engineering services and car rental and leasing operations. ComfortDelGro Corp Ltd has a market cap of 2.86B as of 2022, a Return on Equity of 5.96%. The company’s market capitalization is 2.86B, and its ROE is 5.96%.
Summary
Investing in VERRA MOBILITY may prove to be a worthwhile venture despite the 35.5% decline in net income for the second quarter of Fiscal Year 2023. The company’s total revenue increased 9.1%, signaling that they are continuing to build their business, and their performance has been strong overall. The company is taking steps to streamline operations and reduce costs, and their growth in revenue shows that they are still a valuable asset. As investors analyze VERRA MOBILITY’s financials, they will be encouraged by the company’s current success and potential for future growth.
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