Loading...
•
Jun 30, 2021
Molina Q2 2021 Earnings Report
Molina Healthcare's financial performance was solid, marked by substantial revenue growth and strategic business integrations.
Key Takeaways
Molina Healthcare reported a GAAP EPS of $3.16 and an adjusted EPS of $3.40 for Q2 2021. The company served approximately 4.7 million members, an increase of 32% year-over-year. Premium revenue increased by 51% compared to the second quarter of 2020.
GAAP net income for the second quarter of 2021 was $185 million, or $3.16 per diluted share.
Adjusted net income for the second quarter of 2021 was $199 million, or $3.40 per diluted share.
The Company served approximately 4.7 million members, an increase of 1.1 million members, or 32%, compared to June 30, 2020.
Premium revenue was approximately $6.6 billion for the second quarter of 2021, an increase of 51% compared to the second quarter of 2020.
Molina
Molina
Forward Guidance
The Company now expects its full year 2021 total revenue to be more than $26.0 billion and adjusted earnings per share to be no less than $13.25 per share.
Positive Outlook
- Updated assumptions for the Public Health Emergency period, and the associated pause on Medicaid membership redeterminations, which is now expected to continue through the fourth quarter of 2021
- Retention of pharmacy related premium in California, New York, and Kentucky
- Underlying outperformance
- Offset by an increase in the estimated net effect of COVID by $1.00 per share which is now expected to be approximately $2.50 per share for the full year
- Continued caution in forecasting utilization trends in the remaining six months of the year due to the COVID pandemic