Earnings Labs

CorVel Corporation (CRVL)

Q3 2025 Earnings Call· Mon, Feb 3, 2025

$57.69

-0.74%

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Transcript

Operator

Operator

Thank you for standing by. Welcome to the CorVel Corporation quarterly earnings release webcast. During the course of this webcast, CorVel Corporation may make projections or other forward-looking statements regarding future events or the future financial performances of the company. CorVel wishes to caution you that these statements are only predictions and that actual events or results may differ materially. CorVel refers you to the documents that the company files from time to time with the Securities and Exchange Commission, specifically the company's last Form 10-K and 10-Q filed for the most recent fiscal year and quarter. These documents contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements. I would now like to turn it over to Michael Combs, President and Chief Executive Officer.

Michael Combs

Management

Good morning. Thank you for joining us to review CorVel's December quarter. Brandon O'Brien, CorVel's Chief Financial Officer, is on the call with me today. Today, I will review business performance, the current environment and market trends and progress on new product and service offerings. Brandon will then provide additional details on the quarter's financial results. Revenues for the December quarter were $228 million, a 13% increase over the $202 million of revenue for the December 2023 quarter. Earnings per share for the quarter were $0.46, a 39% increase from the $0.33 per share in the same quarter of the prior year. Earnings per share for the 9 months ending December 31, 2024, were $1.32 compared to $1.09 during the 9 months ending December 2023. The earnings per share figures for the current and previous year have been adjusted to account for a 3-for-1 stock split on December 24, 2024. The decision to execute a stock split reflects CorVel's strong financial position and progress in the market through our strategic initiatives. The successes we've achieved have led to a significant growth in the stock price over the past few years. The stock split enhances the accessibility of shares for a broader range of investors, including CorVel team members. From CorVel's inception, investing in technological innovation has been key to setting CorVel's services apart and improving outcomes for our partners. Although a focus on technology and innovation was unique when we launched in 1988, innovating and effectively leveraging technology has become crucial for competing in our industry today. A key to CorVel's success and continued differentiation is the organization structure, the depth and tenure of the development team and the lack of impedance in translating business needs into the development and implementation of functioning systems. Following are a few differentiators for…

Operator

Operator

This concludes today's webcast. You may disconnect your lines at this time.