Modivcare Maintains FY24 Revenue Guidance Range Of $2.70B - $2.90B, Est $2.843B
Portfolio Pulse from Benzinga Newsdesk
Modivcare has maintained its FY24 revenue guidance range of $2.70B to $2.90B, with an estimate of $2.843B. However, the company has lowered its adjusted EBITDA guidance range.
August 07, 2024 | 9:33 pm
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Modivcare has maintained its FY24 revenue guidance range of $2.70B to $2.90B, with an estimate of $2.843B. However, the company has lowered its adjusted EBITDA guidance range, which may indicate potential challenges in profitability.
While maintaining revenue guidance is positive, the lowering of adjusted EBITDA guidance suggests potential issues with profitability. This could lead to a negative short-term impact on the stock price as investors may be concerned about the company's ability to manage costs and maintain margins.
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