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Mar 31, 2024
Molina Q1 2024 Earnings Report
Molina Healthcare's financial performance was strong in Q1 2024, driven by excellent operating metrics and profitable growth.
Key Takeaways
Molina Healthcare reported a strong first quarter in 2024, with GAAP earnings per diluted share of $5.17 and adjusted earnings per diluted share of $5.73. The company reaffirmed its full-year 2024 guidance, expecting premium revenue of approximately $38 billion and adjusted earnings of at least $23.50 per diluted share.
Served approximately 5.7 million members as of March 31, 2024, a 9% increase compared to March 31, 2023.
Premium revenue was approximately $9.5 billion for the first quarter of 2024, a 21% year-over-year increase.
GAAP net income was $5.17 per diluted share for the first quarter of 2024, a 6% decrease year-over-year.
Adjusted net income was $5.73 per diluted share for the first quarter of 2024, a 1% decrease year-over-year.
Molina
Molina
Molina Revenue by Segment
Revenue by Segment
Medicaid Revenue
CapyFin.comMedicare Revenue
CapyFin.comMarketplace Revenue
CapyFin.com Forward Guidance
The company reaffirmed its full year 2024 guidance with expected premium revenue of approximately $38 billion and adjusted earnings of at least $23.50 per diluted share.
Challenges Ahead
- Potential earnings headwind in the second half of the year from potential contract losses in Virginia and Florida.
Revenue & Expenses
Visualization of income flow from segment revenue to net income