VERRA MOBILITY Reports Record Earnings for FY2023 Q3
November 28, 2023
🌥️Earnings Overview
Verra Mobility ($NASDAQ:VRRM) reported its financials for the third quarter of fiscal year 2023, which ended on September 30 2023. Revenue totaled USD 209.9 million, representing a 6.2% increase from the same period last year, while net income rose to USD 30.3 million, a 23.3% increase year-over-year.
Market Price
On Thursday, VERRA MOBILITY reported record earnings for its fiscal year 2023 third quarter, with its stock opening at $19.9 and closing at $19.8, down by just 0.3% from its previous closing price of $19.8. This marks the first time the company has reported record earnings in the third quarter of a fiscal year, and is a positive sign of the company’s future success. The company attributed its success to its wide range of offerings, including parking enforcement and tolling services, as well as its innovative technologies and solutions that have garnered attention from many state and local governments.
Additionally, Verra Mobility has also experienced growth in its online services and platforms, which allow customers to pay for their tolls or parking tickets quickly and easily. Verra Mobility’s financial performance in the Q3 of FY2023 is a testament to the company’s commitment to delivering innovative solutions and technologies to its customers. Going forward, Verra Mobility will continue to focus on providing accessible services and products that help make cities smarter and more efficient. The company’s success in Q3 marks a promising start to a successful fiscal year. 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 |
| 792.37 | 82.21 | 11.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Verra Mobility. More…
| Operations | Investing | Financing |
| 239.93 | -53.85 | -123.86 |
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 |
| 1.76k | 1.35k | 2.43 |
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 |
| 25.0% | 58.7% | 26.1% |
| FCF Margin | ROE | ROA |
| 23.6% | 29.8% | 7.4% |
Analysis
GoodWhale has conducted an analysis of VERRA MOBILITY‘s wellbeing and our star chart shows that they have a high health score of 8/10 with regard to their cashflows and debt, indicating that the business is capable of riding out any crisis without the risk of bankruptcy. Moreover, VERRA MOBILITY’s performance in terms of growth, profitability, and asset and dividend is strong. We have also classified VERRA MOBILITY as a ‘gorilla’, a type of company we conclude has achieved stable and high revenue or earning growth due to their strong competitive advantage. This type of investment opportunity is likely to be popular with investors looking for both steady returns and growth potential. Those who have a long-term investment strategy are likely to be most interested, as the further returns of their investment are likely to be most beneficial over a longer period of time. For those with a shorter-term focus, however, this may not be the most suitable option. 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
VERRA MOBILITY has reported strong financial results for the third quarter of 2023, with total revenue of USD 209.9 million and net income of USD 30.3 million, an increase of 6.2% and 23.3% respectively year-over-year. Investors should take note of this positive momentum and consider investing in the company, as it indicates strong growth potential. VERRA MOBILITY’s consistent revenue growth, combined with their increasing net income, makes it an attractive option for long-term investors who seek steady returns.
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