We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Molina Healthcare, Inc.’s (MOH - Free Report) third-quarter 2019 adjusted earnings of $2.80 per share surpassed the Zacks Consensus Estimate by 3.3%.
Moreover, the bottom line improved 2.9% year over year, mainly owing to lower expenses.
Also, for the quarter under review, total revenues of $4.2 billion came ahead of the Zacks Consensus Estimate by 2.9%. However, the top line declined 9.7% year over year, mainly due to lower Medicaid membership.
Quarterly Operational Update
The company’s net income totaled $175 million, down 11.2% year over year. Total operating expenses decreased about 10.2% year over year to $3.9 billion. This improvement was attributable to lower medical care costs and no health insurer fees as well as cost of service revenues.
For the third quarter, medical care cost was down 7% year over year to nearly $3.5 billion.
Molina Healthcare’s interest expenses dropped 15.4% year over year to $22 million owing to constant repayment of convertible notes.
Total membership by Government Program for 2019 stands at 3.3 billion, down 16.3% year over year.
During the third quarter, Molina Healthcare received $430 million of dividends from regulated health plan subsidiaries.
Molina Healthcare, Inc Price, Consensus and EPS Surprise
As of Sep 30, 2019, Molina Healthcare’s cash and cash equivalents saw a reduction of 5.2% to $2.7 billion from the level at 2018 end.
Total assets fell 6.3% from 2018 end to $6.7 billion.
The company’s shareholder equity improved nearly 11.2% from the figure at 2018 end to $1.8 billion.
For the first nine months of of 2019, net cash outflow from operating activities stands at $398 million.
2019 Guidance
Following third-quarter results, the company hiked its 2019 outlook. It now expects earnings in the range of $11.30-$11.55 per share, indicating a rise from the prior estimate of $11.20-$11.50.
Among other players from the medical sector having already reported third-quarter earnings, the bottom-line results of UnitedHealth Group Incorporated (UNH - Free Report) , Anthem Inc. and Centene Corporation (CNC - Free Report) topped the respective Zacks Consensus Estimate.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year. See their latest picks free >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Molina Healthcare (MOH) Q3 Earnings Surpass, Increase Y/Y
Molina Healthcare, Inc.’s (MOH - Free Report) third-quarter 2019 adjusted earnings of $2.80 per share surpassed the Zacks Consensus Estimate by 3.3%.
Moreover, the bottom line improved 2.9% year over year, mainly owing to lower expenses.
Also, for the quarter under review, total revenues of $4.2 billion came ahead of the Zacks Consensus Estimate by 2.9%. However, the top line declined 9.7% year over year, mainly due to lower Medicaid membership.
Quarterly Operational Update
The company’s net income totaled $175 million, down 11.2% year over year.
Total operating expenses decreased about 10.2% year over year to $3.9 billion. This improvement was attributable to lower medical care costs and no health insurer fees as well as cost of service revenues.
For the third quarter, medical care cost was down 7% year over year to nearly $3.5 billion.
Molina Healthcare’s interest expenses dropped 15.4% year over year to $22 million owing to constant repayment of convertible notes.
Total membership by Government Program for 2019 stands at 3.3 billion, down 16.3% year over year.
During the third quarter, Molina Healthcare received $430 million of dividends from regulated health plan subsidiaries.
Molina Healthcare, Inc Price, Consensus and EPS Surprise
Molina Healthcare, Inc price-consensus-eps-surprise-chart | Molina Healthcare, Inc Quote
Financial Update
As of Sep 30, 2019, Molina Healthcare’s cash and cash equivalents saw a reduction of 5.2% to $2.7 billion from the level at 2018 end.
Total assets fell 6.3% from 2018 end to $6.7 billion.
The company’s shareholder equity improved nearly 11.2% from the figure at 2018 end to $1.8 billion.
For the first nine months of of 2019, net cash outflow from operating activities stands at $398 million.
2019 Guidance
Following third-quarter results, the company hiked its 2019 outlook. It now expects earnings in the range of $11.30-$11.55 per share, indicating a rise from the prior estimate of $11.20-$11.50.
Zacks Rank
Molina Healthcare carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Releases From the Medical Sector
Among other players from the medical sector having already reported third-quarter earnings, the bottom-line results of UnitedHealth Group Incorporated (UNH - Free Report) , Anthem Inc. and Centene Corporation (CNC - Free Report) topped the respective Zacks Consensus Estimate.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>