CRVL
CorVel Corporation70.54
-0.27-0.38%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q3 '26
Downplays revenue slowdown as cyclical
Q&A tackled revenue deceleration head-on, with Combs dismissing the Q3 slowdown as routine cyclicality in a decade of uneven growth, insisting fundamentals and tech investments sustain momentum. Management rebuffed segment breakdowns, affirming single-segment reporting for patient management and network solutions. Answers largely reaffirmed prepared remarks' view of short-term factors masking solid trajectory. No new details or guidance surfaced. Growth isn't linear. Investors will eye if cycles persist amid AI rollout.
Key Stats
Market Cap
3.62BP/E (TTM)
34.92Basic EPS (TTM)
2.02Dividend Yield
0%Recent Filings
10-Q
Q3 FY2026 results
CorVel posted Q3 FY2026 revenue of $235.6M, up 3% y/y from $228.0M, fueled by 9% network solutions growth to $89.6M while patient management held steady at $146.1M. Gross margin ticked to 23.3% from 23.2%; operating income rose 5% y/y to $32.2M before a 25% tax hit. Diluted EPS held at $0.47 on 51.6M shares, aided by buybacks. Cash swelled to $230M on $126.2M operating cash flow less $36.2M capex (FCF $90.0M derived), funding $36M repurchases YTD; no debt. Acquired tech firm in Q1 for bill review tools. Competition from in-house carriers presses margins.
8-K
Q3 revenues up 3%
CorVel reported Q3 revenues of $236M, up 3% from $228M last year, with gross profit rising 4% to $54.9M at 23% margin. Nine-month revenues hit $710M, up 7%, and EPS climbed 16% to $1.53. Cash swelled to $230M, debt-free, after repurchasing $13.4M in stock. AI advances boost efficiency, yet integration risks loom.
10-Q
Q1 FY2026 results
CorVel posted Q1 FY2026 revenues of $239.6M, up 6.8% y/y from $224.4M, with network solutions surging 15% to $88.8M while patient management edged 2.4% higher. Gross margin expanded to 24.3% from 22.6%, driving net income to $27.9M (diluted EPS $0.54, up 20% y/y) on steady G&A at 9.3% of sales. Cash swelled to $207.5M after $80.0M operating cash flow (up from $62.7M y/y) minus $25.2M capex, yielding $54.8M free cash flow; repurchased $22.5M in shares. Acquired a tech firm for proprietary bill review tools via $0.8M stock issuance, with up to 97K contingent shares. Balance sheet shines debt-free. Competition from in-house insurer services looms.
8-K
Q2 revenue up 7%, EPS +20%
CorVel reported Q2 revenues of $240M, up 7% from $224M last year, with gross profit surging 15% to $58.2M and EPS climbing 20% to $0.54. Cash swelled to $207M, debt-free, after repurchasing $12.8M in stock. AI investments counter workforce shortages. Forward-looking productivity gains carry execution risks.
8-K
CFO transition announced
CorVel Corporation's CFO Brandon O'Brien is transitioning out effective September 10, 2025, after 23 years, with consulting support for handover. Board appointed internal veteran Brian Nichols, 45, as new CFO immediately, boosting his base salary to $275,000 plus bonus and options eligibility. Nichols brings 15 years at CorVel. Smooth internal shift minimizes disruption.
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