Privia Health Q1 Net Profit More Than Halves; Backs FY24 Revenue Outlook

(RTTNews) - Privia Health Group, Inc. (PRVA) reported Thursday that net income attributable to the company for the first quarter plunged to $2.98 million or $0.02 per share from $7.32 million or $0.06 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $0.18 per share, compared to $0.16 per share in the year-ago quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $0.05 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter grew 7.5 percent to $415.2 million from $386.3 million in the same quarter last year. Analysts expected revenues of $680.00 million for the quarter.

Looking ahead fiscal 2024, the company continues to anticipate revenues between $1.60 billion and $1.675 billion. The Street is looking for revenues of $2.84 billion for the year.

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