ModivCare

ModivCare, Inc. provides technology-enabled services, which offers integrated supportive care solutions for public and private payors and their patients. It operates through the following business segments: Non-Emergency Medical Transportation (NEMT), Matrix Investment, and Personal Care. The NEMT segment operates under the brands ModivCare Solutions, LLC, and Circulation and includes the Company’s activities for executive, accounting, finance, internal audit, tax, legal, certain strategic and development functions and the Company's insurance captive. The Matrix Investment segment provides home and mobile-based healthcare services for health plans. The Personal Care segment consists of non-medical home care to Medicaid patient populations, including seniors and disabled adults, in need of care monitoring and assistance performing activities of daily living. The company was founded by Fletcher Jay McCusker in December 1996 and is headquartered in Denver, CO.

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ModivCare exceeds 2022 targets, eyes growth through innovation and efficiency

ModivCare's strong performance in 2022 sets a positive trajectory for 2023 with revenue and EBITDA growth.
Strategic realignment, innovation focus, and leadership changes position the company for future success.
Challenges like managing cash flows and cost shifts are being addressed to drive improved margins.
Opportunities in NEMT growth, RPM innovation, and meal delivery expansion offer avenues for future expansion.

ModivCare reports solid Q1 results, eyes long-term growth targets

ModivCare's Q1 performance showed revenue growth and maintained EBITDA guidance, focusing on operational efficiency and margin improvement.
Strengths lie in strategic initiatives, positive outlook on growth, and confidence in achieving long-term targets despite challenges.
Challenges include Medicaid redetermination impact, NEMT margin components, and uncertainties around leverage improvement.
Opportunities present in cost reduction, margin optimization, and potential free-cash generation, emphasizing long-term stability and growth.

ModivCare reports Q2 revenue growth, adjusts guidance amidst Medicaid challenges

ModivCare's Q2 performance showed revenue growth driven by the Home division, despite challenges in NEMT and cash flow.
The company is optimistic about revenue guidance, new executive hires, and cost-saving initiatives to mitigate redetermination impacts.
Anticipated challenges include Medicaid redetermination impacts and reductions in covered lives, balanced by opportunities in digital capabilities and service enhancements.
Overall, ModivCare aims to navigate challenges, capitalize on opportunities, and maintain financial stability through strategic initiatives.

ModivCare reports strong Q3 results, eyes margin improvement by 2024

ModivCare's Q3 earnings call showcased strong financial performance, strategic pillars driving transformative initiatives, and a focus on value-based care. The company is on track to meet revenue and adjusted EBITDA guidance for 2023, with expectations of margin improvements and sustained positive free cash flow post-2023.

ModivCare reports solid Q4 growth, eyes contract wins for 2024

ModivCare reported solid revenue growth in Q4 2023, driven by key segments like NEMT, PCS, and RPM. Despite challenges in Q1 2024, the company aims for strong financial performance in 2024, targeting adjusted EBITDA of $220-230 million.
The company's focus on cost-saving initiatives, customer integration, and quality improvements has led to significant contract wins in managed Medicaid. Labor availability stabilization and strategic positioning in the healthcare market are key strengths.
Challenges like contract losses and cash flow tensions persist, but ModivCare remains optimistic about growth opportunities through new contract wins and Matrix monetization. The company's proactive approach to financial management and focus on performance enhancement are notable.
Opportunities lie in winning more contracts, improving NEMT margins, and leveraging existing state presence for revenue growth. Matrix monetization and potential RFPs in 2024 present additional avenues for revenue generation and market expansion.

ModivCare meets Q1 guidance, eyes growth through strategic initiatives

ModivCare's Q1 performance met guidance, with a focus on enhancing competitive positioning.
Challenges include delayed reimbursement increases and lower EBITDA in personal care segment.
Opportunities lie in refinancing, monetizing Matrix, and potential sale of personal care segment.
Overall, ModivCare is strategically positioned for growth and operational efficiency.

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ModivCare, Inc. is a technology-enabled healthcare services company, which engages in the provision of a suite of integrated supportive care solutions for public and private payors and their members. It operates through the following segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other. The NEMT segment is involved in the non-emergency medical transportation programs for state governments and managed care organizations, or MCOs, in the U.S. The Personal Care segment offers home personal care services to State and Managed Medicaid, Medicare, and Private Pay patient populations in need of care monitoring and assistance performing activities of daily living. The RPM segment focuses on remote patient monitoring solutions, including personal emergency response systems, vitals monitoring, and data-driven patient engagement solutions. The Corporate and Other segment includes the costs associated with the company's corporate operations. The company was founded by Fletcher Jay McCusker in December 1996 and is headquartered in Denver, CO.

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The consensus price target hints at a 28.5% upside potential for ModivCare (MODV). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

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Does ModivCare (MODV) Have the Potential to Rally 32% as Wall Street Analysts Expect?

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ModivCare Inc. (NASDAQ:MODV ) Q2 2021 Earnings Conference Call August 4, 2022 8:00 AM ET Company Participants Kevin Ellich - Head of Investor Relations Heath Sampson - Interim Chief Executive Officer and Chief Financial Officer Conference Call Participants Brian Tanquilut - Jefferies Bob Labick - CJS Securities Scott Fidel - Stephens Inc. Brooks O'Neil - Lake Street Capital Markets Kieran Ryan - Deutsche Bank Mike Petusky - Barrington Research Operator Good morning, and welcome to ModivCare's Second Quarter 2022 Financial Results Conference Call. [Operator Instructions] Please note, this conference call is being recorded.

ModivCare Inc. (MODV) CEO Heath Sampson on Q2 2022 Results - Earnings Call Transcript

ModivCare (MODV) delivered earnings and revenue surprises of 39.16% and 7.99%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

ModivCare (MODV) Q2 Earnings and Revenues Beat Estimates

DENVER--(BUSINESS WIRE)--Modivcare Inc., (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today reported financial results for the three and six months ended June 30, 2022. Second Quarter 2022 Highlights: Revenue of $628.2 million, a 32.4% increase as compared to $474.4 million in Q2 2021 Net income of $3.3 million or $0.24 per diluted common sha

Modivcare Reports Second Quarter 2022 Financial Results and Updates 2022 Guidance

DENVER--(BUSINESS WIRE)--Modivcare Inc., (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company's Chief Financial Officer, L. Heath Sampson, has been appointed Interim Chief Executive Officer, effective immediately. In connection with this announcement, Daniel E. Greenleaf is no longer serving as Chief Executive Officer

Modivcare Announces Leadership Transition

DENVER--(BUSINESS WIRE)--Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company is scheduled to report financial results for the second quarter ended June 30, 2022, on Thursday, August 4, 2022, before the market opens. Modivcare will host a conference call on Thursday, August 4, 2022, at 8:00 a.m. Eastern

Modivcare to Report Second Quarter 2022 Financial Results

DENVER--(BUSINESS WIRE)--Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company released its first Environmental, Social, and Governance (ESG) Report. The inaugural report details Modivcare's ESG governance and sustainability framework, how the Company supports the United Nations Sustainable Development G

Modivcare Releases Inaugural Environmental, Social, and Governance (ESG) Report

DENVER--(BUSINESS WIRE)--Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, will host its inaugural Investor Day in Denver, Colorado today, Thursday, June 23, 2022. Members of Modivcare's senior management team will provide an overview of the Company's business model, growth strategy, and detailed reviews of its two operating divisio

Modivcare To Host Inaugural Investor Day Today In Denver Colorado

DENVER--(BUSINESS WIRE)--Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, announced the Company will host its inaugural Investor Day in-person in Denver, Colorado on Thursday, June 23, 2022, starting at 1:00 PM (MT). The Company will also host a reception with members of the Executive Leadership Team at the conclusion of the Invest

Modivcare to Host Inaugural Investor Day on June 23, 2022

DENVER--(BUSINESS WIRE)--Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced that Dan Greenleaf, President and Chief Executive Officer, and Heath Sampson, Chief Financial Officer, are scheduled to present at the Jefferies 2022 Healthcare Conference in New York City on Thursday, June 9, 2022 at 11:30 a.m. Eastern Time.

Modivcare to Present at the Jefferies 2022 Healthcare Conference

DENVER--(BUSINESS WIRE)--Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced the Company's Remote Patient Monitoring (RPM) Segment has acquired Guardian Medical Monitoring, LLC (“GMM”) from its parent company, Guardian Alarm. Guardian Medical Monitoring is a leading provider of remote patient monitoring solutions to Ma

Modivcare Announces Acquisition of Guardian Medical Monitoring

ModivCare Inc. (NASDAQ:MODV ) Q1 2022 Earnings Conference Call May 5, 2022 8:00 AM ET Company Participants Kevin Ellich – Head of Investor Relations Dan Greenleaf – President and Chief Executive Officer Jason Anderson – President, Modivcare Home Heath Sampson – Chief Financial Officer Conference Call Participants Bob Labick – CJS Securities Brian Tanquilut – Jefferies Pito Chickering – Deutsche Bank Brooks O'Neil – Lake Street Capital Markets Mike Petusky – Barrington Research Operator Greetings, and welcome to the Modivcare's First Quarter 2022 Financial Results Conference Call. At this time all participants are in a listen-only mode.

ModivCare Inc's (MODV) CEO Dan Greenleaf on Q1 2022 Results - Earnings Call Transcript

ModivCare (MODV) delivered earnings and revenue surprises of -0.63% and 1.67%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

ModivCare (MODV) Q1 Earnings Lag Estimates

DENVER--(BUSINESS WIRE)--Modivcare Inc., (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today reported financial results for the three months ended March 31, 2022. First Quarter 2022 Highlights: Revenue of $574.5 million, a 26.6% increase as compared to $453.6 million in Q1 2021 Net income of $0.3 million or $0.02 per diluted common share Adjus

Modivcare Reports First Quarter 2022 Financial Results

ModivCare (MODV) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: ModivCare (MODV) Q1 Earnings Expected to Decline

DENVER--(BUSINESS WIRE)--Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced that Dan Greenleaf, President and Chief Executive Officer, and Heath Sampson, Chief Financial Officer, are scheduled to present at the BofA Securities 2022 Healthcare Conference in Las Vegas on Wednesday, May 11, 2022 at 9:20 a.m. Pacific Time

Modivcare to Present at the BofA Securities 2022 Healthcare Conference

DENVER--(BUSINESS WIRE)--Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced the appointment of Kevin Ellich as Head of Investor Relations. Dan Greenleaf, Modivcare's President and Chief Executive Officer, commented, “Kevin brings to Modivcare in-depth healthcare industry knowledge, financial and analytical acumen, str

Modivcare Names Kevin Ellich as Vice President, Head of Investor Relations

DENVER--(BUSINESS WIRE)--Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced the appointment of Brett Hickman as the Company's Chief Commercial Officer. In this role, Mr. Hickman will be integral to Modivcare's commercial strategy to cross-sell its integrated platform of supportive care solutions that address the socia

Modivcare Appoints Brett Hickman as Chief Commercial Officer

DENVER--(BUSINESS WIRE)--Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced that it has formalized the operating and management structure of its Mobility division, which consists of the Company's non-emergency medical transportation (“NEMT”) services, with the appointment of Ilias Simpson as President. This announceme

Modivcare Announces Appointment of Ilias Simpson as President of its Mobility Division

DENVER--(BUSINESS WIRE)--Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company is scheduled to report financial results for the first quarter ended March 31, 2022, on Thursday, May 5, 2022, before the market opens. Modivcare will host a conference call on Thursday, May 5, 2022, at 8:00 a.m. Eastern Time

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