GAAP net income for the first quarter of 2023 was $5.52 per diluted share, an increase of 26% compared to the first quarter of 2022. The following table presents the components of the change in medical claims and benefits payable for the periods indicated: Medical claims and benefits payable, beginning balance. The impact varied by segment. By using our website, you consent to our use of cookies in accordance with our Privacy Policy. On 01/29/2021 JACQUELINE GONZAGA filed a Labor - Other Labor lawsuit against MOLINA HEALTHCARE, INC ,. Jim oversees the overall healthcare operations of the enterprise and the enterprises health plan support functions such as information technology, claims processing, payment integrity, and contact centers, as well as Molinas pharmacy operation, national network operations and a variety of clinical-oriented services such as quality, risk adjustment, and ancillary services. 2023 Molina Healthcare, Inc. All rights reserved. Sapphire365 The company has a market cap of $17.41 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 1.12 and a beta of 0.70. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Group 3,4,5 Annual Filings Current Reports Mergers & Acquisitions Other Proxy Filings Quarterly Filings Registration Statements. Molina Healthcare had a trailing twelve-month return . 07/28/2021. About Molina Healthcare. The G&A ratio for the full year was 7.2%, compared to 7.4% for the full year 2021. FAQs | Molina Healthcare South Carolina The Companys claims liabilities include additional reserves to account for moderately adverse conditions based on historical experience and other factors including, but not limited to, variations in claims payment patterns, changes in utilization and cost trends, known outbreaks of disease, and large claims. The Company believes that adjusted net income is helpful to investors in assessing the Companys financial performance. Molina Healthcare is monitoring Coronavirus Disease 2019 (COVID-19) developments on a daily basis. See the Reconciliation of Unaudited Non-GAAP Financial Measures at the end of this release. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. In-depth profiles and analysis for 20,000 public companies. Please select one of the states in which we provide services. Molina Healthcare serves approximately 5.2 million members eligible for Medicaid, Medicare, and other government-sponsored healthcare programs for low-income families and individuals, including Marketplace . (Dollars in millions). 326 E 8th St #105, Sioux Falls, SD 57103 Molina Healthcare, Inc. : MOH Stock Price - MarketScreener The higher premium revenue reflects the impact of acquisitions and increased organic membership in the Medicaid and Medicare lines of business. Export data to Excel for your own analysis. The year ended December 31, 2022 includes gain on lease termination and disposal of fixed assets. Management | Molina Healthcare Inc. Adjusted after-tax margin represents adjusted net income, divided by total revenue. 3 Oil Stocks to Buy Before the Price of Crude Takes Off, Nio Inc - (NYSE:NIO) Shares Bought by DekaBank Deutsche Girozentrale, ARKK: The Pros and Cons Of Buying Into Cathie's Best-Known ETF, Wells Fargo's Earnings, Why Markets Are Loving The Stock, This Autonomous Vehicle Stock Doubled in June and May Do It Again, Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our, 3 Stocks on the Move in July: Adobe, Salesforce, Enovix, Joby Aviation Stock Moves Higher With Catalyst For More Growth. The year over year improvement reflects disciplined cost management and the benefits of fixed cost leverage produced by the Companys increase in revenue. StockNews.com lowered Molina Healthcare from a "strong-buy" rating to a "buy" rating in a report on Thursday, June 15th. Management will host a conference call and webcast to discuss Molina Healthcares first quarter 2023 results at 8:00 a.m. Eastern Time on Thursday, April 27, 2023. Molina Healthcare is monitoring Coronavirus Disease 2019 (COVID-19) developments on a daily basis. (1) All amounts are rounded and approximations. The Judges overseeing this case are LAWRENCE P. RIFF and AMY D. HOGUE. Joe Zubretsky is the president and chief executive officer for Molina Healthcare, Inc. Joe has more than 35 years of experience in the insurance and financial services sectors. You can view your member materials, change your doctor, view service history and request a new ID card. The year ended December 31, 2021 includes change in premium deficiency reserves, loss on sale of property, and restructuring costs. The consolidated MCR for the full year was 88.0%, compared to 88.3% for the full year 2021. Adjusted G&A Ratio represents the GAAP G&A ratio, recognizing adjustments. In his prior role at Molina, Jim served as the executive vice president, health plan services. Company Description: Molina Healthcare, a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs, and through the state insurance marketplaces. (Dollars in millions). The stock has a market capitalization of $17.41 billion, a P/E ratio of 20.34, a PEG ratio of 1.08 and a beta of 0.70. Molina Healthcare Inc (Molina Healthcare) is a provider of government-sponsored care for low-income individuals in the US. UNAUDITED CONSOLIDATED STATEMENTS OF INCOME, Diluted weighted average shares outstanding, Prepaid expenses and other current assets, Property, equipment, and capitalized software, net, Accounts payable, accrued liabilities and other, Common stock, $0.001 par value, 150 million shares authorized; outstanding: 58 million shares at each of March 31, 2023 and December 31, 2022, Preferred stock, $0.001 par value; 20 million shares authorized, no shares issued and outstanding, Total liabilities and stockholders equity, UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS. Reflects non-recurring costs associated with acquisitions, including various transaction and certain integration costs. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Nvidia Invested $50 million into This AI Drug Discovery Biotech, eBay Steps Aboard the AI Bandwagon with Certilogo Acquisition, How the NASDAQ 100 Special Rebalancing Will Hurt Performance, 3 Dividend Stocks That Still Make Sense in 2023, United Health Stock Is Flying, It May Only Be The Beginning, Investors Like Adobe's Potential To Leverage Generative AI, Humana's Fall Creates A Rare dip Buying Opportunity. Welcome to Molina Healthcare of Utah Committee Charters & Governance Documents, Molina Healthcare to Acquire Bright HealthCares California Medicare Business, Molina Healthcare Announces Second Quarter 2023 Earnings Release and Conference Call Dates, Q2 2023 Molina Healthcare, Inc. Earnings Conference Call. To receive faster service, we encourage members to use our web portal at mymolina.com or to use our mobile app, Molina Mobile. Cookies are used to improve the use of our website and analytic purposes. These reports can be accessed under the investor relations tab of the Companys website or on the SECs website at sec.gov. The G&A ratio and the adjusted G&A ratio for the first quarter of 2023 were 7.2%, reflecting new business implementation spending ahead of new contract wins, incepting in July 2023 and January 2024. Premium revenue was $7.9 billion for the first quarter of 2023, an increase of 5% compared to the first quarter of 2022. Prior to joining Molina, he served as president and chief executive officer for the Hanover Insurance Group. IT Client Prospector provides intelligence on Molina Healthcare Incs likely spend across technology areas enabling you to understand the digital strategy. (SPACs), Transportation, Infrastructure & Logistics. Watch these short videos that put it all together, including helpful tips for what to do first! 2023 Molina Healthcare, Inc. All rights reserved. Get health reminders on services you need. A telephonic replay of the conference call will be available through Thursday, February 16, 2023, by dialing (877) 344-7529 and entering confirmation number 8594444. Given these risks and uncertainties, the Company can give no assurances that its forward-looking statements will prove to be accurate, or that any other results or developments projected or contemplated by its forward-looking statements will in fact occur, and the Company cautions investors not to place undue reliance on these statements. Adjustments to reconcile net income to net cash provided by operating activities: Changes in operating assets and liabilities: Net cash provided by operating activities, Proceeds from sales and maturities of investments, Purchases of property, equipment, and capitalized software, Net cash (used in) provided by investing activities, Common stock withheld to settle employee tax obligations, Contingent consideration liabilities settled, Net increase in cash, cash equivalents, and restricted cash and cash equivalents, Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period, Cash, cash equivalents, and restricted cash and cash equivalents at end of period. Save hours of research time and resources with our up-to-date, most comprehensive Molina Healthcare Inc.report available on the market, Understand Molina Healthcare Inc position in the market, performance and strategic initiatives, Gain competitive edge and increase your chances of success. MOLINA HEALTHCARE, INC.RECONCILIATION OF UNAUDITED NON-GAAP FINANCIAL MEASURES It operates in four segments, Medicaid, Medicare, Marketplace, and Other. Deutsche Bank Aktiengesellschaft dropped their target price on Molina Healthcare from $365.00 to $335.00 in a report on Monday, May 8th. In November, The MolinaCares Accord in collaboration with Molina Healthcare of California donated $80,000 to Downtown Streets Team (DST). Molina Healthcare, Inc., a FORTUNE 500 company (currently ranked 125), provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. More perks. The Company believes that certain non-GAAP (generally accepted accounting principles) financial measures are useful supplemental measures to investors in comparing the Companys performance to the performance of other public companies in the health care industry. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz- und Cookie-Einstellungen oder Datenschutz-Dashboard klicken. The company earned $8.15 billion during the quarter, compared to the consensus estimate of $8.31 billion. The Marketplace MCR for the first quarter of 2023 was 68.6%, reflecting the Companys pricing strategy and seasonality. Register for My Molina. Access more premium companies when you subscribe to Explorer, Contact the team or request a demo to find out how our data can drive your business forward, Transportation, Infrastructure and Logistics, Top 10 General Insurers in the US in 2021 by Written Premiums, Top 10 General Insurers in the World in 2021 by Written Premiums, Gain a 360-degree view of Molina Healthcare Inc and make more informed decisions for your business, 200 Oceangate, Suite 100, Long Beach, California, 90802-4317, Gain access to our premium signals and make informed decisions for your business, Understand Molina Healthcare Inc portfolio and identify potential areas for collaboration, Dive into past operations, including product releases, deals, acquisitions & more, Benchmark the company against the market with exclusive information on key competitors, Chart Financial activity with access to more key stats, Director; President; Chief Executive Officer, Gain insight into Molina Healthcare Inc key executives to enhance your sales strategy, GlobalData Plc 2023 | Registered Office: John Carpenter House, John Carpenter Street, London, EC4Y 0AN, UK | Registered in England No.