Modivcare Inc. reported its financial results for the third quarter ended September 30, 2024, on November 6, 2024. The company posted a net loss of $26.6 million, resulting in a loss of $1.87 per diluted common share.
Adjusted earnings for the quarter came in at 45 cents per share, which did not meet the average analyst estimate of 59 cents per share. Additionally, Modivcare's revenue for the period was $702 million, falling short of the Street's forecast of $711.3 million.
Despite missing third-quarter estimates, Modivcare affirmed its full-year revenue guidance, expecting it to be in the range of $2.7 billion to $2.9 billion. The company's performance reflects ongoing challenges in its operating environment.
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