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Verra Mobility Corporation - VRRM STOCK NEWS

Welcome to our dedicated page for Verra Mobility Corporation news (Ticker: VRRM), a resource for investors and traders seeking the latest updates and insights on Verra Mobility Corporation stock.

Verra Mobility Corporation (NASDAQ: VRRM) is a prominent provider of smart mobility technology solutions aimed at making transportation safer, smarter, and more connected. Headquartered in Mesa, Arizona, the company operates across North America, Europe, Asia, and Australia, offering innovative products and services that enhance urban and motorway mobility and contribute to healthier communities.

The company’s business is segmented into three key areas: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment, which generates the majority of Verra Mobility's revenue, provides tolling and violation management services for rental car companies, commercial fleet vehicle owners, and violation issuing authorities.

Verra Mobility's Government Solutions segment focuses on providing automated safety and enforcement solutions to government entities. These include red-light and speed enforcement systems that help enhance road safety and compliance. Meanwhile, the Parking Solutions segment offers comprehensive parking management services, addressing complex payment, utilization, and compliance challenges for both municipal and university parking systems.

Recent achievements highlight Verra Mobility's strong performance and optimistic future. In their latest financial results for Q2 2023, the company reported strong recurring revenue growth and significant free cash flow generation. They have also renewed key customer contracts and continue to execute a balanced capital allocation strategy, including share repurchase programs and acquisitions to expand their technological capabilities.

Verra Mobility’s commitment to safety and innovation is evident in their continual development and implementation of advanced technologies. Their transportation safety systems and parking management solutions are designed to protect lives and improve traffic flow and urban planning.

With a focus on forging strategic partnerships and leveraging data intelligence, Verra Mobility is well-positioned to address the evolving needs of the global smart mobility marketplace. For more information, investors can visit their official website at www.verramobility.com and their investor relations site at ir.verramobility.com.

News

Verra Mobility Schedules First Quarter 2024 Earnings Call

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Verra Mobility (NASDAQ: VRRM) announced the scheduling of its first-quarter 2024 earnings call for March 31, 2024. The call, hosted by CEO David Roberts and CFO Craig Conti, will take place on May 2, 2024, at 5:00 p.m. ET. Investors and analysts can access the conference call and live webcast to discuss financial results. Details for joining the call and accessing the webcast are provided in the press release.
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Verra Mobility appoints Cate Prescott as Chief People Officer

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Verra Mobility appoints Cate Prescott as Chief People Officer, bringing 30 years of HR leadership expertise to shape the company's global human resources strategy. Ms. Prescott joins from National Instruments and will oversee compensation, benefits, employee engagement, talent acquisition, and management.
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Verra Mobility Joins Connected Vehicle Systems Alliance (COVESA)

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Verra Mobility joins COVESA to develop open standards and technology for connected vehicles, aiming to enhance the vehicle experience for drivers and transform the mobility ecosystem.
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Verra Mobility to Participate in the Morgan Stanley Technology, Media & Telecom Conference

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Verra Mobility Corporation (NASDAQ: VRRM) executives to participate in fireside chat at Morgan Stanley Conference on March 5, 2024.
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Verra Mobility Announces Fourth Quarter and Full Year 2023 Financial Results

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Verra Mobility Corporation (VRRM) announced its financial results for the fourth quarter and full year ended December 31, 2023, with highlights including revenue of $817.3 million, net income of $57.0 million, and cash flows from operations of $206.1 million. The company reported strong performance in the fourth quarter, with total revenue of $211.0 million, a 13% increase from the previous year. Adjusted EBITDA was $91.3 million, showing a positive trend. Verra Mobility operates in three segments: Commercial Services, Government Solutions, and Parking Solutions. The company also disclosed details about an interest rate swap agreement, warrants exercise, share repurchases, and a new share repurchase program. Legal proceedings with PlusPass were resolved with an accrued amount of $31.5 million. The company provided guidance for the full year 2024, subject to change based on various factors.
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Verra Mobility partners with Florida community to deliver school zone safety solutions

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Verra Mobility Corporation partners with the Town of Davie, Florida, to enhance school zone safety through the implementation of school speed safety cameras. The collaboration aims to protect schoolchildren by changing driver behavior and enforcing speed limits in more than 35 new school zones. The program aligns with Florida's House Bill 657, allowing for enforcement cameras to monitor speed in school zones.
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Verra Mobility Schedules Fourth Quarter 2023 Earnings Call

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Verra Mobility Corporation (NASDAQ: VRRM) will report Q4 2023 financial results on Feb 29, 2024, with a conference call hosted by CEO David Roberts and CFO Craig Conti. Investors and analysts can access the call via phone or webcast.
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Verra Mobility Announces Appointment of Raj Ratnakar to Its Board of Directors

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Verra Mobility Corporation appoints Raj Ratnakar as new independent director, bringing extensive experience in corporate strategy and M&A. Mr. Ratnakar's background includes leadership roles at DuPont, Fortive, Danaher, and TE Connectivity, as well as consulting experience at McKinsey & Company.
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Verra Mobility Releases Inaugural Corporate Responsibility Report

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Verra Mobility Corporation (NASDAQ: VRRM) has published its inaugural Corporate Responsibility Report, outlining the company's environmental, social, and governance initiatives. The report details the company's efforts in developing technology-enabled solutions to reduce traffic crashes, congestion, idling, and vehicle emissions, as well as fostering a purpose-driven company culture and committing to responsible business practices. CEO David Roberts emphasizes the company's commitment to making the world a safer and better place, aiming to be good corporate citizens and support the communities in which they operate.
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Thanksgiving weekend traffic data shows red-light running is most prevalent on Wednesdays

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Verra Mobility Corporation (VRRM) released data showing an increase in red-light and speeding violations during the Thanksgiving holiday weekend. The data revealed that the Wednesday before Thanksgiving had the most red-light violations, while Thanksgiving Day had the most speeding violations. The National Safety Council reported that the 2022 Thanksgiving weekend was estimated to be the deadliest since 2007, with over 570 traffic fatalities occurring during the five-day period. The data also indicated that speeding was a factor in one-third of all traffic fatalities, emphasizing the need for increased alertness during the holiday weekend.
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FAQ

What is the current stock price of Verra Mobility Corporation (VRRM)?

The current stock price of Verra Mobility Corporation (VRRM) is $23.66 as of December 20, 2024.

What is the market cap of Verra Mobility Corporation (VRRM)?

The market cap of Verra Mobility Corporation (VRRM) is approximately 3.9B.

What does Verra Mobility Corporation do?

Verra Mobility Corporation provides smart mobility technology solutions that make transportation safer, smarter, and more connected. They offer services in tolling, violation management, and parking solutions.

Where is Verra Mobility headquartered?

Verra Mobility is headquartered in Mesa, Arizona, USA.

What are the primary segments of Verra Mobility's business?

The primary segments are Commercial Services, Government Solutions, and Parking Solutions.

How does Verra Mobility contribute to urban safety?

Verra Mobility provides automated enforcement solutions such as red-light and speed cameras, which enhance road safety and compliance in urban areas.

What recent financial highlights did Verra Mobility report?

In Q2 2023, Verra Mobility reported strong recurring revenue growth, significant free cash flow generation, and renewal of key customer contracts.

What are Verra Mobility's plans for future growth?

Verra Mobility plans to continue leveraging strategic partnerships, advancing technological innovation, and expanding their global presence to maintain growth.

How can I access Verra Mobility's investor information?

Investor information can be accessed through their investor relations website at http://ir.verramobility.com.

What is Verra Mobility’s approach to data intelligence?

Verra Mobility uses data intelligence to develop solutions that improve transportation safety and efficiency, leveraging data to provide insights and innovative solutions.

What types of customers does Verra Mobility serve?

Verra Mobility serves rental car companies, commercial fleet owners, municipal authorities, and parking management entities.

What geographical areas does Verra Mobility operate in?

Verra Mobility operates in North America, Europe, Asia, and Australia.

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Verra Mobility Corporation

Nasdaq:VRRM

VRRM Rankings

#1445 Ranked by Market Cap
N/A Ranked by Dividends

VRRM Stock Data

3.88B
163.43M
0.83%
101.29%
0.9%
Infrastructure Operations
Transportation Services
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United States of America
MESA