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Sep 30, 2022
Molina Q3 2022 Earnings Report
Reported strong financial results driven by membership growth and disciplined cost management.
Key Takeaways
Molina Healthcare reported strong third-quarter results, exceeding previous guidance for revenue and earnings. The company's performance reflects the successful execution of its growth strategy and effective cost management. Increased full-year 2022 revenue and earnings guidance.
Served approximately 5.2 million members, a 7% increase compared to the prior year.
Premium revenue increased by 12% compared to the third quarter of 2021.
GAAP earnings per diluted share increased by 61% and adjusted earnings per diluted share increased by 54% compared to the third quarter of 2021.
Increased full year 2022 premium revenue and adjusted earnings guidance.
Molina
Molina
Molina Revenue by Segment
Revenue by Segment
Medicaid Revenue
CapyFin.comMedicare Revenue
CapyFin.comMarketplace Revenue
CapyFin.com Forward Guidance
Molina Healthcare increased its full-year 2022 guidance for premium revenue to approximately $30.5 billion and adjusted earnings to at least $17.75 per diluted share.
Positive Outlook
- Third quarter outperformance
- Addition of the AgeWell acquisition
- Expected impact of the extension of the Public Health Emergency
- Expected margin on additional revenue resulting from the extension of the Public Health Emergency
- Higher expected net investment income
Challenges Ahead
- Higher expected G&A driven by fourth quarter marketing
- Open enrollment activities
- New contract wins
- Net effect of COVID decreased the third quarter of 2022 GAAP and adjusted EPS by $0.59 per diluted share
- Operating cash flow for the nine months ended September 30, 2022, was $985 million, which was lower compared to the nine months ended September 30, 2021
Revenue & Expenses
Visualization of income flow from segment revenue to net income