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 (MOH) Q1 Earnings Miss Mark, Slip Y/Y
Read MoreHide Full Article
Molina Healthcare, Inc.’s (MOH - Free Report) first-quarter 2020 adjusted earnings of $3.02 per share missed the Zacks Consensus Estimate by 0.3% due to escalating expenses. Moreover, the bottom line slid 0.7% year over year.
However, total revenues of $4.5 billion surpassed the consensus mark by 2.7%. The top line rose 10.4% year over year on the back of increased membership.
Quarterly Operational Update
The company’s net income totaled $178 million, down 10.1% year over year.
Total operating expenses increased 11.4% year over year to $4.2 billion.
This deterioration was due to higher medical care costs, depreciation and amortization.
Molina Healthcare’s interest expenses dropped 8.7% year over year to $21 million.
Total membership by Government Program at the end of first quarter stands at 3.4 billion, up 0.3% year over year.
Molina Healthcare, Inc Price, Consensus and EPS Surprise
Among other players from the medical sector that reported first-quarter results so far, the bottom-line results of Centene Corp. (CNC - Free Report) and Anthem Inc. lagged the Zacks Consensus Estimate while that of Humana Inc. (HUM - Free Report) beat the same.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Molina Healthcare (MOH) Q1 Earnings Miss Mark, Slip Y/Y
Molina Healthcare, Inc.’s (MOH - Free Report) first-quarter 2020 adjusted earnings of $3.02 per share missed the Zacks Consensus Estimate by 0.3% due to escalating expenses. Moreover, the bottom line slid 0.7% year over year.
However, total revenues of $4.5 billion surpassed the consensus mark by 2.7%. The top line rose 10.4% year over year on the back of increased membership.
Quarterly Operational Update
The company’s net income totaled $178 million, down 10.1% year over year.
Total operating expenses increased 11.4% year over year to $4.2 billion.
This deterioration was due to higher medical care costs, depreciation and amortization.
Molina Healthcare’s interest expenses dropped 8.7% year over year to $21 million.
Total membership by Government Program at the end of first quarter stands at 3.4 billion, up 0.3% year over year.
Molina Healthcare, Inc Price, Consensus and EPS Surprise
Molina Healthcare, Inc price-consensus-eps-surprise-chart | Molina Healthcare, Inc Quote
Financial Update
As of Mar 31, 2020, Molina Healthcare’s cash and cash equivalents decreased 3.5% to $2.3 billion from the level at 2019 end.
Total assets rose 5% from the level at 2019 end to $7.1 billion.
The company’s shareholder equity declined nearly 16% from the figure at 2019 end to $1.6 billion.
For the first quarter, net cash flow from operating activities stands at $136 million, down 45.4% year over year.
Share Repurchase Update
Molina Healthcare completed its $500-million share repurchase program.
In the first quarter, it bought back shares worth $450 million.
2020 Guidance
Following first-quarter results, the company reaffirmed its full-year outlook.
It now expects earnings in the range of $11.20-$11.70 per share.
For the current year, the company anticipates total revenues to be $18.3 billion.
Zacks Rank and Performance of Other Players
Molina Healthcare carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among other players from the medical sector that reported first-quarter results so far, the bottom-line results of Centene Corp. (CNC - Free Report) and Anthem Inc. lagged the Zacks Consensus Estimate while that of Humana Inc. (HUM - Free Report) beat the same.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>