Verra Mobility Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 29, 2024 at 04:11 pm EST
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Verra Mobility Corporation reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 211.01 million compared to USD 186.07 million a year ago. Net income was USD 3.02 million compared to USD 28.22 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to USD 0.19 a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to USD 0.13 a year ago.
For the full year, revenue was USD 817.31 million compared to USD 741.6 million a year ago. Net income was USD 57.02 million compared to USD 92.48 million a year ago. Basic earnings per share from continuing operations was USD 0.36 compared to USD 0.61 a year ago. Diluted earnings per share from continuing operations was USD 0.36 compared to USD 0.5 a year ago.
Verra Mobility Corporation provides smart mobility technology solutions across the United States, Australia, Europe, and Canada. The Company has three segments. Commercial Services segment is a provider of automated toll and violations management, and title and registration solutions to rental car companies (RACs) and fleet management companies (FMCs) and other large fleet owners in North America. In Europe, the segment provides violations processing through Euro Parking Collection plc and consumer tolling services through Pagatelia S.L.U. Government Solutions segment is a provider of automated safety solutions in the United States, Canada, and Australia to state and local governments. In the United States, the segment provides government agencies with road safety cameras to detect and process traffic violations for red-light, speed, school bus, and city bus lanes. Parking Solutions segment provides an end-to-end commercial parking management solution in the markets of North America.