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SAN DIEGO - ModivCare Inc. (NASDAQ:MODV) reported fourth quarter earnings that fell short of analyst expectations; however, MODV shares were up 2.2% in aftermarket trading Thursday.
The healthcare services company posted adjusted earnings per share of $0.19, missing the analyst consensus of $0.76 by $0.57. Revenue for the quarter came in at $702.8 million, below estimates of $718.94 million and down from $738.2 million in the same quarter last year.
ModivCare’s fourth quarter results reflect ongoing challenges in its business. The revenue miss indicates softer demand for the company’s supportive care solutions compared to expectations. Meanwhile, the significant earnings shortfall suggests the company faced margin pressures during the period.
ModivCare provides technology-enabled healthcare services and integrated supportive care solutions for public and private payors and their members.
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