02:04 PM EDT, 05/03/2024 (MT Newswires) -- ModivCare ( MODV ) shares rose more than 19% in recent Friday trading, a day after the company reported a higher net service revenue in Q1.

The company reported a Q1 adjusted loss late Thursday of $0.09 per diluted share, compared with adjusted earnings of $1.42 per diluted share a year earlier.

Analysts polled by Capital IQ expected normalized earnings of $0.19.

Net service revenue for the quarter ended March 31 was $684.5 million, up from $662.3 million a year earlier.

Analysts surveyed by Capital IQ expected $663.9 million.

The company maintained its 2024 revenue outlook of $2.70 billion to $2.90 billion. Analysts surveyed by Capital IQ expect $2.79 billion.

Price: 26.22, Change: +4.24, Percent Change: +19.29