ModivCare (MODV) shares fell more than 5% in recent Monday trading after the company cut its adjusted earnings before interest, taxes, depreciation, and amortization guidance range.
The company said it now expects 2024 EBITDA guidance to be between $170 million and $180 million, compared with $185 million to $195 million previously.
ModivCare said the revision was mainly due to pricing adjustments in the non-emergency medical transportation, or NEMT segment, aimed at strategically retaining and expanding key customer relationships.
Price: 13.31, Change: -0.81, Percent Change: -5.74
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