greeksoup/ stock research
Stock research / United States / VRRM / Q1 FY2024

Verra Mobility (VRRM) Q1 FY2024 earnings: revenue $210 million, up 9.3% on the year

Verra Mobility Corp. (VRRM) reported revenue of $210 million for Q1 FY2024, the quarter ended 31 March 2024, up 9.3% on the same quarter a year earlier. Net income was $29 million, up 536.9% on the year, and diluted earnings per share $0.17. The figures are the company's own, from the 10-Q it filed with the SEC on 2 May 2024.

Revenue$210 millionup 9.3%
Net income$29 millionup 536.9%
Diluted EPS$0.17
QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

LineQ1 FY2024Q4 FY2023A year earlierChange on the year
Revenue210211n/an/a
Selling, general and administrative48.273.1n/an/a
Operating income54.423.3n/an/a
Operating margin25.9%11.1%n/a
Interest expense19.620.9n/an/a
Pre-tax income39.01.1n/an/a
Income tax9.8-1.9n/an/a
Effective tax rate25.2%-165.1%n/a
Net income29.13.0n/an/a
Net margin13.9%1.4%n/a
Diluted EPS$0.17$0.02n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ1 FY2024Q4 FY2023A year earlierChange on the year
Operating cash flow34.335.7n/an/a
Capital expenditure14.316.5n/an/a
Free cash flow20.119.2n/an/a
Free cash flow margin9.6%9.1%n/a
Cash from investing-13.9-16.6n/an/a
Cash from financing-6.30.7n/an/a
Depreciation and amortisation26.926.2n/an/a
Share-based compensation5.65.1n/an/a
Diluted shares, weighted169m169mn/an/a
Shares outstanding at period end167m167mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ1 FY2024Q4 FY2023A year earlierChange on the year
Shareholders' equity449421n/an/a
Debt1,0381,038n/an/a
Operating lease liabilities27.729.1n/an/a
Other liabilities255301n/an/a
Total liabilities and equity1,7701,790n/an/a
Fixed assets127123n/an/a
Goodwill835836n/an/a
Intangible assets283301n/an/a
Cash and equivalents150136n/an/a
Receivables182198n/an/a
Inventory17.318.0n/an/a
Other assets176178n/an/a
Total assets1,7701,790n/an/a

Questions

What was Verra Mobility's revenue in Q1 FY2024?

Verra Mobility (VRRM) reported revenue of $210 million for Q1 FY2024, the quarter ended 31 March 2024, up 9.3% on the same quarter a year earlier.

How much did Verra Mobility earn in Q1 FY2024?

Net income for Q1 FY2024 was $29 million, up 536.9% on the year, and diluted earnings per share $0.17.

When did Verra Mobility report Q1 FY2024 results?

Verra Mobility filed its 10-Q for the quarter ended 31 March 2024 with the SEC on 2 May 2024.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue210211210222226222223236262258224264
SG&A42.373.148.246.347.952.651.548.547.867.540.944.0
Operating income59.223.354.461.263.9-43.457.463.274.843.051.8-32.8
Operating margin28%11%26%28%28%-20%26%27%29%17%23%-12%
Interest expense20.420.919.618.818.716.716.616.616.415.015.415.5
Pre-tax income41.81.139.047.648.5-55.944.852.664.732.940.5-42.2
Tax rate28%-165%25%28%28%n/a28%27%28%43%34%n/a
Net income30.33.029.134.234.7-66.732.338.646.818.926.7-48.2
Net margin14%1%14%15%15%-30%14%16%18%7%12%-18%
Diluted EPS$0.18$0.02$0.17$0.20$0.21-$0.41$0.20$0.24$0.29$0.12$0.17-$0.32
Operating cash flow62.435.734.340.010940.563.075.177.740.040.856.4
Capital expenditure10.416.514.314.123.718.821.234.928.834.231.223.8
Free cash flow52.019.220.126.085.121.641.740.349.05.79.632.6
Buybacks100n/an/an/a0.0n/a0.00.00.013350.21.3
Shares outstanding166m167m167m165m165m160m159m160m160m154m152m152m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2024, filed 2 May 2024, accession 0000950170-24-052307: the filing on EDGAR. All of Verra Mobility Corp.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install