Molina Healthcare affirms FY24 EPS view of ‘at least’ $23.50, consensus $23.34

The company states: “Premium revenue for the full year is expected to be approximately $38 billion, an increase of approximately 17% from the full year 2023. The Company reaffirms its full year adjusted earnings per diluted share in 2024 to be at least $23.50, representing approximately 13% growth over the full year 2023. The Medicaid pressure experienced in the second quarter of 2024 is expected to be offset by higher net investment income and the extension of Virginia and Florida contracts in the second half of the year. The Company’s known rate adjustments in the second half of the year are expected to largely offset higher expected trend in the second half of the year.”