CorVel Q2 revenue and profit rise on new customer wins
CRVL•CorVel's fiscal second-quarter revenue rose 11% year over year to $267 million, while diluted EPS increased 24% to $0.67. The company repurchased $18.1 million of common stock during the quarter.
1. Quarterly results
CorVel reported fiscal second-quarter revenue of $267 million, up 11% year over year, and diluted EPS of $0.67, up 24%. It repurchased $18.1 million of common stock during the quarter.
2. Business drivers
The company said its workers compensation and liability businesses benefited from new customer wins and deeper relationships with existing clients. It also cited integrating artificial intelligence into claims workflows and further CERIS expansion, including implementation at a Top 10 national health plan and a partnership for the Blue Cross Blue Shield market. CorVel did not provide specific financial guidance for future quarters or the full year.
