ModivCare Inc. - MODV STOCK NEWS

Modivcare reported Q3 2022 revenue of $647.8 million, a 31.4% increase from Q3 2021. Despite the revenue growth, the company faced a net loss of $28.5 million or $2.03 per diluted share, primarily due to goodwill impairment related to its equity investment in Matrix. Adjusted EBITDA was $51.8 million, reflecting an 8.0% margin. The company updated its 2022 revenue guidance to a range of $2.450 billion to $2.475 billion and adjusted EBITDA guidance of $210 million to $220 million.

Modivcare has appointed L. Heath Sampson as the new President and CEO, effective immediately. Sampson, who has served as Interim CEO and CFO since his predecessor's departure, will lead the company in its next transformation phase. The Board expresses confidence in his ability to drive operational excellence and enhance Modivcare's supportive care platform, focusing on social determinants of health. His extensive experience includes leadership roles in various companies, including Advanced Emissions Solutions. Modivcare will report Q3 2022 earnings on November 3, 2022.

Modivcare Inc. (Nasdaq: MODV) is set to announce its financial results for Q3 2022 on November 3, 2022, prior to market opening. The company will conduct a conference call at 8:00 a.m. ET on the same day to discuss these results. Interested parties can join via the company’s website or through specific dial-in numbers. Modivcare specializes in technology-enabled healthcare services, focusing on integrated supportive care solutions that aim to enhance patient outcomes.

Modivcare Inc. (Nasdaq: MODV), a technology-enabled healthcare services company, announced participation in several upcoming investor conferences. These include the Barrington Research Virtual Fall Investment Conference and the Wells Fargo Leveraged Finance Conference on September 8, 2022, followed by the Lake Street Capital Markets Best Ideas Growth Conference on September 14, 2022. Notably, Interim CEO Heath Sampson will present at the Deutsche Bank Leveraged Finance Conference on September 20, 2022, at 8:40 a.m. (MST). Details of the webcast can be found on Modivcare's Investor Relations website.

Modivcare reported strong financial results for Q2 2022, with revenue of $628.2 million, marking a 32.4% increase from Q2 2021. Net income stood at $3.3 million or $0.24 per diluted share. Adjusted EBITDA reached $60.2 million. The company raised its 2022 guidance to reflect strong performance, projecting revenue between $2,375 million and $2,400 million, and adjusted EBITDA between $210 million and $220 million. Modivcare continues to expand its services, including acquisitions and improving patient outcomes.

Modivcare has appointed L. Heath Sampson as Interim Chief Executive Officer following the departure of Daniel E. Greenleaf from the position. The Board has initiated a search for a permanent successor. Chairman Chris Shackelton praised Sampson's leadership skills, citing his extensive experience and familiarity with the company. Sampson expressed his commitment to continue delivering profitable growth during this transition period. Modivcare is known for its integrated healthcare solutions aimed at improving patient outcomes through various services including non-emergency medical transportation.

Modivcare Inc. (NASDAQ: MODV) has announced it will report its financial results for Q2 2022 on August 4, 2022, before market opens. The company will host a conference call at 8:00 a.m. Eastern Time on the same day to discuss these results. Interested parties can access the live webcast through the company's website. Modivcare provides integrated supportive care solutions aimed at improving patient outcomes and addressing social determinants of health.

Modivcare Inc. (Nasdaq: MODV) hosted its inaugural Investor Day in Denver on June 23, 2022. The event featured senior management discussing the company’s business model, growth strategy, and a breakdown of its Mobility and Home divisions. Modivcare shared 2022 revenue and Adjusted EBITDA guidance while outlining long-term growth prospects. CEO Dan Greenleaf emphasized the transformation aimed at improving care access and outcomes for its 32 million members. The event was accessible via a webcast, with a replay available afterward.