Molina Healthcare Inc
MOH
ISIN US60855R1005 / Valor 1538184
Molina Healthcare Inc
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About company
Molina Healthcare Inc is a prominent health care provider that specializes in offering high-quality, affordable health care services primarily to individuals and families who are beneficiaries of government-sponsored health care programs. Founded in 1980 with a single clinic in Long Beach, the company has significantly expanded its operations over the past four decades. It now operates 19 health plans across the United States, catering to the needs of over 5.1 million members. Molina Healthcare is dedicated to addressing the comprehensive health needs of its members, including their physical, social, and emotional well-being, through a community-based approach tailored to each individual's requirements. The company's growth is also marked by its initiative, the MolinaCares Accord, launched in 2020, which aims to enhance access to health care for its members by making substantial investments in the communities it serves.
Summarized from source with an LLMView SourceSector: HealthcareLatest Results (20.08.2024):
Premium Revenue
Premium revenue for Molina Healthcare Inc. in the second quarter of 2024 was approximately $9.4 billion, marking a 17% increase year over year. This growth was driven by new contract wins, acquisitions, and expansion within the company's existing footprint, although it was partially offset by the impact of Medicaid redeterminations.
Net Income
Molina Healthcare Inc. reported GAAP net income of $5.17 per diluted share for the second quarter of 2024, a 3% decrease compared to the same period in 2023. However, the adjusted net income was $5.86 per diluted share, reflecting a 4% increase year over year.
Medical Care Ratio (MCR)
The consolidated Medical Care Ratio (MCR) for Molina Healthcare Inc. in the second quarter of 2024 was 88.6%. This ratio indicates the company's continued focus on managing medical costs. The Medicaid MCR was 90.8%, influenced by a one-time, retroactive premium adjustment and new Medicaid plans, while the Medicare and Marketplace MCRs were 84.9% and 71.6%, respectively.
General and Administrative Expense Ratio
For the second quarter of 2024, Molina Healthcare Inc. reported a General and Administrative (G&A) expense ratio of 7.0%, with an adjusted G&A ratio of 6.9%. These figures reflect the company's efficiency in managing administrative costs relative to its revenue.
2024 Guidance
Molina Healthcare Inc. reaffirmed its full-year 2024 guidance, expecting premium revenue to be approximately $38 billion, a 17% increase from 2023. The company also anticipates adjusted earnings per diluted share to be at least $23.50, representing a 13% growth over the previous year. The company expects Medicaid pressures to be offset by higher net investment income and contract extensions in Virginia and Florida.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
20812 M
Market cap (USD)
110,798
Daily traded volume (Shares)
358.43 / 352.97
1 day high/low (USD)
52 weeks high/low (USD)
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