Molina Healthcare, Inc. - MOH STOCK NEWS

Molina Healthcare (NYSE: MOH) announced that the Iowa Department of Health and Human Services intends to award its Iowa health plan a Medicaid managed care contract. The contract, set to start on July 1, 2023, has a duration of four years with an option for an additional four. Molina will join two other organizations to provide health coverage to approximately 850,000 Medicaid beneficiaries in Iowa. This award aligns with Molina's mission to enhance member health through quality care.

Molina Healthcare has been notified by the Mississippi Division of Medicaid regarding the intention to award a Medicaid Coordinated Care Contract for the Mississippi Coordinated Access Program (MississippiCAN) and the Children's Health Insurance Program (CHIP). This contract is set to commence on July 1, 2023, and extend through June 30, 2027. Molina Healthcare of Mississippi currently services nearly 90,000 Medicaid members in the state.

Molina Healthcare (MOH) reported a strong second quarter in 2022, with GAAP earnings per diluted share rising to $4.25 compared to $3.16 in Q2 2021. Premium revenue reached $7.8 billion, a significant 18% increase year-over-year. The company has upgraded its full-year guidance, now projecting 2022 premium revenue of approximately $30 billion and adjusted earnings of at least $17.60 per share. Molina serves about 5.1 million members, reflecting a 9% increase from the previous year. Despite COVID-related impacts, the company demonstrated solid financial performance and growth initiatives.

Molina Healthcare (NYSE: MOH) has announced its acquisition of My Choice Wisconsin (MCW) for approximately $150 million, enhancing its Medicaid Managed Long-Term Care services in Wisconsin. MCW, which serves over 44,000 members and generates around $1 billion in premium revenue, aligns with Molina's strategic growth initiatives. This acquisition is expected to positively impact Molina's earnings and expand its footprint. The transaction requires regulatory approvals and is anticipated to close in 2022.

The MolinaCares Accord announced a $400,000 contribution to the University of Washington School of Nursing to enhance the behavioral health workforce in Washington. This initiative aims to develop a blended family and psychiatric primary care curriculum for nurse practitioners, addressing the ongoing provider shortage in behavioral health.

Dr. Jay Fathi emphasized the need to expand training in this area, especially as 34% of Washington adults reported anxiety or depressive symptoms due to COVID-19. The funding will improve the capabilities of nursing professionals and ultimately benefit community health.

Molina Healthcare (NYSE: MOH) announces the release of its second-quarter earnings results, scheduled for July 27, 2022, after market close. The company will host a conference call on July 28, 2022, at 8:00 a.m. Eastern Time to discuss these results. Investors can access the call by dialing (877) 883-0383 with the confirmation number 4270459. A replay will be available until August 11, 2022. Molina Healthcare, a FORTUNE 500 company, provides managed healthcare services to approximately 5.1 million members across 19 states as of March 31, 2022.

Molina Healthcare (NYSE: MOH) reported strong Q1 2022 results, with GAAP earnings per diluted share of $4.39 and adjusted earnings of $4.90. Premium revenue rose by 19% year-over-year to approximately $7.5 billion, with total revenue reaching $7.77 billion. The company increased its 2022 premium revenue guidance to $29.25 billion and adjusted earnings guidance to at least $17.10 per diluted share. The Medical Care Ratio was at 87.1%, slightly up from 86.8% last year, with a notable impact from COVID-19 affecting earnings. The company served 5.1 million members, a 10% increase from the previous year.

Molina Healthcare (NYSE: MOH) will release its first-quarter 2022 earnings on April 27, 2022, after market close. Following the release, a conference call is scheduled for April 28, 2022, at 8:00 a.m. ET. Investors can access the call by calling (877) 883-0383 and using confirmation number 6168107. A replay will be available until May 12, 2022. As of December 31, 2021, Molina Healthcare served approximately 5.2 million members.

Molina Healthcare reported strong financial results for Q4 2021, with GAAP earnings per diluted share of $1.74 and adjusted earnings of $2.88. For the full year 2021, GAAP earnings were $11.25 per diluted share, while adjusted earnings reached $13.54. Premium revenue increased by 47% year-over-year to $26.9 billion. The company issued a positive 2022 guidance, expecting total revenue of $29.5 billion and adjusted EPS growth of 26% to no less than $17.00 per share. Molina also acquired Cigna's Texas Medicaid contracts, enhancing its market position.