U.S. Markets close in 4 hrs 44 mins

CorVel Corporation (CRVL)

NasdaqGS - NasdaqGS Delayed Price. Currency in USD
Add to watchlist
82.89+0.67 (+0.81%)
As of 11:15AM EDT. Market open.
Full screen
Trade prices are not sourced from all markets
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Neutralpattern detected
Previous Close82.22
Open82.00
Bid82.73 x 1400
Ask83.05 x 800
Day's Range81.97 - 82.94
52 Week Range44.67 - 96.45
Volume6,826
Avg. Volume73,220
Market Cap1.486B
Beta (5Y Monthly)0.91
PE Ratio (TTM)36.01
EPS (TTM)2.30
Earnings DateNov 03, 2020 - Nov 09, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • CorVel Corporation (CRVL) Q1 2021 Earnings Call Transcript
    Motley Fool

    CorVel Corporation (CRVL) Q1 2021 Earnings Call Transcript

    During the course of this webcast, CorVel Corporation may make projections or other forward-looking statements regarding future events of the future financial performances of the company. CorVel wishes to caution you that these statements are only predictions and the 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.

  • GlobeNewswire

    CorVel Announces Revenues and Earnings

    IRVINE, Calif., Aug. 04, 2020 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL) announced the results for the quarter ended June 30, 2020. Earnings per share for the quarter ended June 30, 2020 were 46 cents. Revenues for the period were $129.6 million. As much of CorVel’s business is tied to the volume of healthcare spending, the June quarter results reflect the reduction of elective surgeries and general physician care due to the pandemic. While business remains dynamic, transaction volumes increased incrementally each month. The quarter-ending cash balance was $94 million, an increase of $11 million from the end of the prior quarter. As the Company navigated COVID-19, delivering and expanding virtual care solutions experienced accelerated milestones in the June quarter. The Company’s ongoing investments in technology allowed CorVel to quickly respond to the market needs by scaling telehealth physician capabilities as well as expanding tele-rehab, mail-order prescriptions, and home delivery of durable medical equipment.During the quarter, the Company continued development of its integrated claims management platform, CareMC EdgeSM with the release of the Insights interface. The enhancement provides risk managers complete visibility into the details of their claims. CorVel’s use of machine learning technology is expanding as investments in emerging technologies increases. The work with artificial intelligence, machine learning, and natural language processing is expected to improve outcomes, quality and consistency.About CorVel  CorVel Corporation is a national provider of innovative workers’ compensation, auto, liability and health solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. We apply technology, intelligence, and a human touch throughout the risk management process so our clients can intervene early and often while being connected to the critical intelligence they need to proactively manage risk. With a robust technology platform at its core, our connected solution is delivered by a national team of associates who are committed to helping clients design and administer programs that meet their organization’s performance goals.Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company’s current expectations, estimates and projections about the Company, management’s beliefs, and certain assumptions made by the Company, and events beyond the Company’s control, all of which are subject to change. Such forward-looking statements include, but are not limited to, statements relating to the Company’s telehealth and virtual care services and the Company’s continued investment in these and other innovative technologies, and statements relating to the Company’s stock repurchase program and the timing of entering into a Rule 10b5-1 stock trading plan. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause the Company’s actual results to differ materially and adversely from those expressed in any forward-looking statement, including the risk that the impact of the COVID-19 pandemic on our business, results of operations and financial condition is greater than our initial assessment; and the amount and timing of any stock repurchases under the Company’s stock repurchase program, if any, and the Company’s ability to repurchase shares of its common stock and how those repurchased shares may be used.The risks and uncertainties referred to above include but are not limited to factors described in this press release and the Company’s filings with the Securities and Exchange Commission, including but not limited to “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended March 31, 2020 and the Company’s Quarterly Report on Form 10-Q for the quarters ended June 30, 2019, September 30, 2019, and December 31, 2019. The forward-looking statements in this press release speak only as of the date they are made. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason. CorVel Corporation Quarterly Results – Income Statement Quarters Ended June 30, 2020 (unaudited) and June 30, 2019 (unaudited)Quarter EndedJune 30, 2020 June 30, 2019 Revenues$129,600,000 $150,139,000 Cost of revenues 103,091,000  117,005,000 Gross profit 26,509,000  33,134,000 General and administrative 15,585,000  15,752,000 Income from operations 10,924,000  17,382,000 Income tax provision 2,622,000  3,975,000 Net income$8,302,000 $13,407,000 Earnings Per Share:      Basic$0.46 $0.72 Diluted$0.46 $0.71 Weighted Shares      Basic 17,983,000  18,524,000 Diluted 18,114,000  18,787,000 CorVel Corporation Quarterly Results – Condensed Balance Sheet June 30, 2020 (unaudited) and March 31, 2020 (audited) June 30, 2020  March 31, 2020  Cash$94,111,000  $83,223,000  Customer deposits 52,689,000   48,991,000  Accounts receivable, net 67,469,000   65,767,000  Prepaid taxes and expenses 10,167,000   11,010,000  Property, net 74,360,000   75,900,000  Goodwill and other assets 39,963,000   40,703,000  Right-of-use asset, net 86,250,000   90,666,000  Total$425,009,000  $416,260,000  Accounts and taxes payable$16,618,000  $16,363,000  Accrued liabilities 121,917,000   117,326,000  Deferred tax liability 7,515,000   7,764,000  Long-term operating lease liabilities 80,867,000   85,096,000  Paid-in capital 171,415,000   168,938,000  Treasury stock (534,162,000)  (531,764,000) Retained earnings 560,839,000   552,537,000  Total$425,009,000  $416,260,000  Contact: Melissa Storan Phone: 949-851-1473 http://www.corvel.com

  • GlobeNewswire

    CorVel Leverages Integrated Platform to Provide Liability Management as COVID-19 Claims Rise

    CorVel is Monitoring Rapidly Emerging Legislation to Keep Employers InformedIRVINE, Calif., July 27, 2020 (GLOBE NEWSWIRE) -- CorVel Corporation, a national provider of risk management solutions, is leveraging its experience and technology to provide clients with liability management services and  monitor emerging legislation as claims related to COVID-19 increase. As the global pandemic continues to impact the country, liability claims are proliferating. Employers are facing claims such as alleged negligence to provide adequate personal protective equipment (PPE) or social distancing, and failure to have contingency plans in place to protect employees. CorVel’s national liability division is providing insight and guidance to clients regarding COVID-19 claim reporting and best-practice handling, along with 24/7 catastrophic assistance for third-party claimants.Legislation and state orders focusing on compensability and policy coverage are rapidly emerging to address the situation. Several jurisdictions have expanded the presumption of compensability under workers' compensation for a wide array of public and private employees, including first responders, health care workers, and frontline workers. At least a dozen states are adopting revised legislation regarding business continuity and business interruption coverage. CorVel is closely monitoring the situation and capturing these emerging jurisdictional changes on its legislative updates page.“As an experienced liability third-party administrator, CorVel provides clients with in-depth knowledge to streamline the claim process, mitigate costs, and improve outcomes,” said Michael Combs, CorVel President and CEO. “We are actively monitoring legislative updates, claim trends, and clinical information to provide proactive solutions and better manage workers' compensation and liability claims for our clients.”When a COVID-19 claim arises, liability claims specialists work closely with employers to provide defense counsel with the required information and documentation. CorVel leverages its integrated system to: * Create investigative checklists specific to the COVID-19 claim * Collect statements based on questions directly related to infection and the spread of the virus * Identify actions the employer took to reduce the spread of infection, such as implementing employee hygiene practices, increasing workplace cleanliness and sanitation, supplying PPE, and installing appropriate signage * Gather documentation from the claimant, including medical records, timelines, proof of location, and receipts * Provide experts, where needed, to mitigate responsibility for the negligence allegations“This new landscape is quite different from the slip-and-fall or product claim that we usually see—COVID-19 is a whole new ballgame,” said Ed Burtnette, VP Liability Services at CorVel. “Our robust system gives liability claims specialists the tools they need to truly understand the client and become an extension of their business. By understanding the nuances of each industry’s situation, we can anticipate and address the needs of each customer and each claim. CorVel’s goal is to ease the process for everyone involved and to help resolve claims promptly, completely, and in good faith while protecting our clients’ businesses and brands from costly mistakes.”To learn more about liability and litigation related to COVID-19, watch CorVel’s webinar, “Anticipate, Mitigate, (Rarely) Litigate,” featuring a panel of industry experts.About CorVel CorVel Corporation is a national provider of industry-leading workers' compensation and liability solutions for employers, third-party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. We apply technology, intelligence, and a human touch to the risk management process so our clients can intervene early and connect to the critical intelligence they need to manage risk proactively. With a robust technology platform at its core, our connected solution is delivered by a national team of associates who are committed to helping clients design and manage programs that meet their organization's performance goals.Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company’s current expectations, estimates, and projections about the Company, management’s beliefs, and certain assumptions made by the Company, and events beyond the Company’s control, all of which are subject to change. Such forward-looking statements include but are not limited to statements relating to the Company’s liability claims managementservices and the Company’s continued investment in these and other innovative technologies. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties, and assumptions that could cause the Company’s actual results to differ materially and adversely from those expressed in any forward-looking statement, including the risk that the impact of the COVID-19 pandemic on our business, results of operations and financial condition is greater than our initial assessment.The risks and uncertainties referred to above include but are not limited to factors described in this press release and the Company’s filings with the Securities and Exchange Commission, including but not limited to “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended March 31, 2020 and the Company’s Quarterly Report on Form 10-Q for the quarters ended June 30, 2019, September 30, 2019, and December 31, 2019. The forward-looking statements in this press release speak only as of the date they are made. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.CorVel Corporation 1920 Main St. Suite 900 Irvine, CA 92614   Contact: Melissa Storan Phone: 949-851-1473 www.corvel.com