ModivCare Inc. (NASDAQ:MODV) Q4 2023 Earnings Conference Call February 23, 2024 8:30 AM ET
Company Participants
Kevin Ellich - Head of Investor Relations
Heath Sampson - President & Chief Executive Officer
Barbara Gutierrez - Chief Financial Officer
Conference Call Participants
Brian Tanquilut - Jefferies
Scott Fidel - Stephens
Brooks O'Neil - Lake Street Capital
Pito Chickering - Deutsche Bank
Peter Lukas - CJS Securities
Mike Petusky - Barrington Research
Operator
Good morning and welcome to ModivCare's Fourth Quarter and Full Year 2023 Financial Results Conference Call. [Operator Instructions] Please note this conference call is being recorded.
I will now like to turn the call over to Kevin Ellich, Head of Investor Relations. Mr. Ellich, you may begin.
Kevin Ellich
Good morning and thank you for joining ModivCare's fourth quarter and full year 2023 earnings conference call and webcast. Joining me today is Heath Sampson, ModivCare's President and Chief Executive Officer; and Barbara Gutierrez, ModivCare's Chief Financial Officer.
Before we get started, I want to remind everyone that during today's call, management will make forward-looking statements under the Private Securities Litigation Reform Act. These statements involve risks, uncertainties and other factors that may cause actual results or events to differ materially from expectations. Information regarding these factors is contained in today's press release and in the company's filings with the SEC. We will also discuss non-GAAP financial measures to provide additional information to investors. A definition of these non-GAAP financial measures and to the extent applicable, a reconciliation to their most directly comparable GAAP financial measures is included in our press release and Form 8-K.
A replay of this conference call will be available approximately 1 hour after today's call concludes and will be posted on our website, modivcare.com. This morning, Heath Sampson will begin with opening remarks. Barbara Gutierrez will review our financial results and guidance. Then we'll open the call for questions.
With that, I'll turn the call over to Heath.
Heath Sampson
Good morning and thank you for joining our fourth quarter and full year 2023 earnings call. Today, I'll discuss our 2023 results, reflect on our transformation journey and share our outlook for 2024 before handing the call over to Barb, who will further elaborate on our financial results.
Let me begin by saying we are pleased to have delivered fourth quarter revenue and adjusted EBITDA in line with our expectations. Full year 2023 revenue grew 10% with adjusted EBITDA of $204 million. Before addressing the transformation progress we've made, I'd like to address some of the challenges we've encountered primarily stemming from the recovery period following the pandemic.