Molina Posts Solid 2Q Results Despite High MLR
Molina Healthcare, Inc. posted solid results in the second quarter of 2022, earning favorable reviews from Wall Street despite posting a high medical loss ratio (MLR). Executives from the Medicaid- and marketplace-focused carrier touted a recent streak of acquisitions — and teased more transactions and new contract awards.
Total revenues for the second quarter of 2022 amounted to $8.05 billion, up from $6.8 billion in the second quarter of 2021. Profits also increased, with Molina posting $266 million in net income for the quarter with an after-tax margin of 3.3%, up from $199 million and a 2.9% margin in the second quarter of 2021. According to Barclays analyst Steve Valiquette, those results beat Wall Street’s projected margin of 1.2%. Earnings per share (EPS) were $4.55, up from $3.40 in the second quarter of 2021.