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Jun 30, 2024
Molina Q2 2024 Earnings Report
Molina Healthcare reported second quarter results and reaffirmed full year earnings guidance.
Key Takeaways
Molina Healthcare reported a strong second quarter with growth in premium revenue and adjusted earnings per share. The company reaffirmed its full year 2024 earnings guidance.
Served approximately 5.6 million members, an increase of 8% year over year.
Premium revenue increased by 17% year over year, reaching approximately $9.4 billion.
GAAP net income was $5.17 per diluted share, a decrease of 3% year over year.
Adjusted net income was $5.86 per diluted share, an increase of 4% year over year.
Revenue by Segment
Forward Guidance
The company reaffirmed its full year adjusted earnings per diluted share in 2024 to be at least $23.50.
Positive Outlook
- Premium revenue for the full year is expected to be approximately $38 billion, an increase of approximately 17% from the full year 2023.
- The Company reaffirms its full year adjusted earnings per diluted share in 2024 to be at least $23.50, representing approximately 13% growth over the full year 2023.
- Higher net investment income is expected.
- The extension of Virginia and Florida contracts in the second half of the year is expected.
- The Company’s known rate adjustments in the second half of the year are expected to largely offset higher expected trend in the second half of the year.
Challenges Ahead
- The Medicaid pressure experienced in the second quarter of 2024 is expected to be offset by higher net investment income and the extension of Virginia and Florida contracts in the second half of the year.
- The Company’s known rate adjustments in the second half of the year are expected to largely offset higher expected trend in the second half of the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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