ModivCare Sees FY23 Revenue $2.75B-$2.8B Vs $2.62B Est.
Portfolio Pulse from Benzinga Newsdesk
ModivCare has updated its revenue and adjusted EBITDA guidance for FY23. The company now expects revenue to be between $2.75 billion and $2.8 billion, up from the previous estimate of $2.575 billion to $2.6 billion. However, the adjusted EBITDA guidance has been lowered to $200 million to $210 million from the previous $225 million to $235 million.
August 04, 2023 | 2:29 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
ModivCare has raised its revenue guidance for FY23, which could be seen as a positive sign by investors. However, the company has also lowered its adjusted EBITDA guidance, which could be a cause for concern.
ModivCare's raised revenue guidance indicates that the company expects to generate more sales in FY23 than previously estimated, which could be a positive sign for investors. However, the lowered EBITDA guidance suggests that the company expects lower profitability, which could be a negative sign. The net impact on the stock price is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100