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Sep 30, 2021
Molina Q3 2021 Earnings Report
Reported solid operating earnings and continued to drive growth strategy.
Key Takeaways
Molina Healthcare reported a GAAP earnings per diluted share of $2.46 and an adjusted earnings per diluted share of $2.83 for Q3 2021. The company served approximately 4.8 million members as of September 30, 2021, representing a 20% increase compared to the previous year. Premium revenue for the third quarter of 2021 was approximately $6.8 billion, a 43% increase compared to the third quarter of 2020.
GAAP net income for the third quarter of 2021 was $143 million, or $2.46 per diluted share.
Adjusted net income for the third quarter of 2021 was $164 million, or $2.83 per diluted share.
As of September 30, 2021, the Company served approximately 4.8 million members, an increase of 805,000 members, or 20%, compared to September 30, 2020.
Premium revenue was approximately $6.8 billion for the third quarter of 2021, an increase of 43% compared to the third quarter of 2020.
Molina
Molina
Molina Revenue by Segment
Revenue by Segment
Medicaid Revenue
CapyFin.comMedicare Revenue
CapyFin.comMarketplace Revenue
CapyFin.com Forward Guidance
The Company expects its full year 2021 total revenue to be no less than $27.5 billion and reaffirmed its full year 2021 adjusted earnings per share guidance to be no less than $13.25 per share.
Positive Outlook
- The continuation of the Public Health Emergency period, through mid-January, 2022 and the associated pause on Medicaid membership redeterminations.
- Underlying outperformance.
- An offset caused by the estimated net effect of COVID which is expected to be approximately $3.00 per share for the full year 2021.
- Continued caution in forecasting utilization trends for the remaining three months of the year due to the COVID pandemic.
- The impact of the Cigna Texas membership acquisition is not included in guidance. The Cigna Texas membership acquisition is expected to close in January of 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income