Verra Mobility posts Q3 2026 results, terminates Avis Budget Group contract and reaffirms FY 2026 guidance
Verra Mobility reported third‑quarter 2026 revenue of $258.9 million, a 1% decline year‑over‑year, and net income of $40.4 million. Adjusted EPS was $0.36 and cash on hand fell to $137.0 million while total debt stood at $1.03 billion. The company announced it will end its Avis Budget Group contract by Jan 30 2027, appointed Matthew Kvarda as interim CFO, and reaffirmed its full‑year 2026 revenue and EPS guidance.
Why it matters
The results triggered a sharp share decline of about 20% as investors reacted to weaker commercial services revenue and the contract termination. The reaffirmed guidance means the company’s outlook remains unchanged, so cash flow expectations and debt coverage stay on the current path.
Key facts
- 1Total revenue for Q3 2026 was $258.9 million, down 1% YoY. prnewswire.com
- 2Net income for Q3 2026 was $40.4 million, or $0.27 per share. prnewswire.com
- 3Adjusted EPS for Q3 2026 was $0.36 per share. prnewswire.com
- 4Cash on hand at quarter‑end was $137.0 million and total debt was $1.03 billion. tradingview.com
- 5The company will terminate its Avis Budget Group contract effective Jan 30 2027. tradingview.com
- 6Board appointed Matthew Kvarda as interim CFO. stocktitan.net
Summary written by AlphAI AI Desk from 11 of 11 sources. Not investment advice. Figures are as stated by the linked sources.