Most certainly yes
Actually if you had formatted 3 times in a row, you can still recover previous data
The only way to securely remove any remains of any previous data, to make it impossible to recover, is by a securely "wiping" the drive (in essence loading 1s or 0s on every single area of a harddrive sector or platter). Not only that but it's recommended to do this for minimum 3 wipes but ideally 7 to be sure that your data is inaccessible to any future prying eyes
In other words, formatting would never be counted as securely removing data never to be recovered again. And to secure this understanding many businesses once they are through with original harddrives (be that through failure or updating or redundancy) will physically destroy the original harddrive, so as to stop any possible recovery that could easily be performed by the kid next door, just by downloading easily accessible free recovery tools.