Molina Healthcare Reaffirms FY24 Guidance With Expected Premium Revenue Of ~$38B Vs $39.79B Est.; Adjusted Earnings Of At Least $23.50 Vs $23.51 Est.
Portfolio Pulse from Benzinga Newsdesk
Molina Healthcare reaffirms its FY24 guidance with expected premium revenue of approximately $38 billion and adjusted earnings per share of at least $23.50. This represents a 17% increase in revenue and 13% growth in earnings over 2023, driven by strong Marketplace performance and higher net investment income.
October 23, 2024 | 8:17 pm
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Molina Healthcare reaffirms its FY24 guidance with expected premium revenue of $38 billion and adjusted EPS of at least $23.50, indicating strong growth driven by Marketplace performance and investment income.
Molina Healthcare's reaffirmation of its FY24 guidance with significant growth in both revenue and earnings suggests positive investor sentiment. The company's strong performance in the Marketplace and higher net investment income are expected to offset challenges in Medicaid and Medicare, supporting a likely positive short-term impact on the stock price.
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