Molina Q1 2024 Earnings Report
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
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