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Verra Mobility Corporation (VRRM)
NASDAQ:VRRM
Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.3Last Year’s EPS
0.24Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: -0.23%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a strong financial performance with significant revenue growth, record free cash flow, and new contract awards, particularly in Government Solutions. However, there were challenges in the T2 Parking business and some temporary impacts from hurricanes on travel. The overall sentiment is positive, supported by strong market demand and a promising long-term outlook.Company Guidance
During Verra Mobility's Q3 2024 earnings call, the company reaffirmed its full-year guidance for revenue, adjusted EBITDA, and adjusted EPS, while raising its adjusted free cash flow guidance to the upper end of the range. The call highlighted several key metrics and business areas: TSA passenger volumes were reported at 106% of 2023 levels by September's end, despite a temporary dip due to hurricanes, and third-quarter revenues of $109 million represented an 11% increase over Q3 2023, with segment profit margins improving by 30 basis points. The Commercial Services segment saw a 6% rise in RAC tolling revenue and a 9% growth in fleet management revenue. Additionally, Government Solutions service revenue, comprising 95% of total revenue, grew by 7%, driven by program expansions and new city implementations, with notable contract awards totaling $22 million in incremental annual recurring revenue (ARR). The company reported $85 million in free cash flow for the quarter, with a net income of $35 million and an adjusted EPS of $0.32, an increase of 10% year-over-year. Looking ahead, Verra Mobility anticipates 2025 revenue growth at the low end of its 6% to 8% long-term guide, with adjusted EBITDA growth in the low to mid-single digits, impacted by business development investments and customer installs.Strong Financial Performance
Third quarter revenues of $109 million grew 11% over the prior year quarter with Commercial Services segment profit margins up by 30 basis points.
Government Solutions Growth
Government Solutions service revenue, which reflects 95% of total revenue for the quarter, grew 7% over the same period last year, driven by program expansion and new city implementations.
Record Free Cash Flow
Generated a record quarter of free cash flow with $85 million for the third quarter, providing significant optionality for capital deployment.
New Contract Awards
Won contract awards representing about $22 million of incremental annual recurring revenue, bringing the year-to-date incremental ARR total to $45 million.
San Francisco Speed Safety Program
Awarded the contract to manage San Francisco's speed safety program, marking California's first automated speed safety program under the state's legislative authorization.
Positive Long-Term Outlook
Company reaffirms full-year 2024 revenue, adjusted EBITDA, and adjusted EPS guidance while increasing the adjusted free cash flow guide to the upper end of the range.
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VRRM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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VRRM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $25.97 | $23.12 | -10.97% |
| Aug 08, 2024 | $27.66 | $27.48 | -0.65% |
| May 02, 2024 | $24.09 | $25.93 | +7.64% |
| Feb 29, 2024 | $21.62 | $22.88 | +5.83% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Verra Mobility Corporation (VRRM) report earnings?
Verra Mobility Corporation (VRRM) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Verra Mobility Corporation (VRRM) earnings time?
Verra Mobility Corporation (VRRM) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VRRM EPS forecast?
VRRM EPS forecast for the fiscal quarter 2024 (Q4) is 0.3.
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