molinaa03a01a01a17.jpg
News Release
Investor Contact: Julie Trudell, Julie.Trudell@molinahealthcare.com, 562-912-6720
Media Contact: Caroline Zubieta, Caroline.Zubieta@molinahealthcare.com, 562-951-1588
____________________________________________________________________________


Molina Healthcare Reports Fourth Quarter and Year-End 2019 Financial Results
Introduces Full Year 2020 Earnings Guidance

Long Beach, Calif., February 10, 2020 – Molina Healthcare, Inc. (NYSE: MOH) today reported net income for the fourth quarter of 2019 of $168 million, or $2.67 per diluted share, compared to net income of $201 million, or $3.01 per diluted share, for the fourth quarter of 2018. The Company also reported net income for the year ended December 31, 2019, of $737 million, or $11.47 per diluted share, compared to net income of $707 million, or $10.61 per diluted share, for the year ended December 31, 2018. Financial results for the fourth quarter and full year 2019 are summarized below:
 
Three Months Ended
 
Year Ended
 
December 31,
 
December 31,
 
2019
 
2018
 
2019
 
2018
 
(In millions, except per share results)
Premium Revenue

$4,123

 

$4,438

 

$16,208

 

$17,612

Total Revenue

$4,274

 

$4,664

 

$16,829

 

$18,890

Pre-Tax Income

$222

 

$256

 

$972

 

$999

Net Income

$168

 

$201

 

$737

 

$707

EPS – Diluted

$2.67

 

$3.01

 

$11.47

 

$10.61

MCR
86.0
%
 
85.1
%
 
85.8
%
 
85.9
%
G&A Ratio
8.0
%
 
7.2
%
 
7.7
%
 
7.1
%
Pre-Tax Margin
5.2
%
 
5.5
%
 
5.8
%
 
5.3
%
Effective Tax Rate
24.3
%
 
21.4
%
 
24.2
%
 
29.2
%
After-Tax Margin
3.9
%
 
4.3
%
 
4.4
%
 
3.7
%

Highlights include:
Premium revenue was $4.1 billion for the fourth quarter of 2019, a 7.1% decrease compared to the fourth quarter of 2018.
Medical care ratio (MCR) was 86.0% for the fourth quarter of 2019, compared to 85.1% for the fourth quarter of 2018.
General and administrative (G&A) expense ratio increased to 8.0% for the fourth quarter of 2019, compared to 7.2% for the fourth quarter of 2018.
After-tax margin was 3.9% for the fourth quarter of 2019, compared to 4.3% for the fourth quarter of 2018.
Net income for the year ended December 31, 2019, increased to $737 million, compared to $707 million for 2018, and after-tax margin increased to 4.4% for 2019, compared to 3.7% for 2018.
In December 2019, the Company’s Board of Directors authorized a share repurchase program of up to $500 million, and through February 7th, the Company repurchased an aggregate of approximately 1.9 million shares for $257 million, at an average cost of $133.23 per share.
Operating cash flows for the year ended December 31, 2019, were $427 million.
Introduced full year 2020 earnings guidance, including GAAP earnings per diluted share of $11.20 - $11.70.

-MORE-

The following information was filed by Molina Healthcare Inc (MOH) on Monday, February 10, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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