Stock Analysis
- United States
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- Healthcare Services
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- NYSE:MOH
Molina Healthcare Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS In Line
Molina Healthcare (NYSE:MOH) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$9.58b (up 18% from 2Q 2023).
- Net income: US$301.0m (down 2.6% from 2Q 2023).
- Profit margin: 3.1% (down from 3.8% in 2Q 2023). The decrease in margin was driven by higher expenses.
- EPS: US$5.18 (down from US$5.36 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Molina Healthcare Revenues Beat Expectations
Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) was mostly in line with analyst estimates.
Looking ahead, revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Healthcare industry in the US.
Performance of the American Healthcare industry.
The company's shares are up 16% from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on Molina Healthcare's balance sheet.
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About NYSE:MOH
Molina Healthcare
Provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces.