Molina Healthcare (MOH) Sinks After Missing Q1, Guiding Lower
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Revenue Growth %: +21.9%
Financial Fact:
Medical care costs: 3.75B
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Molina Healthcare (NYSE: MOH) is down 12% after-hours after the company reported Q1 EPS of $0.51, $0.31 worse than the analyst estimate of $0.82. Revenue for the quarter came in at $4 million versus the consensus estimate of $4.17 billion.
“Although first quarter results were not in line with our expectations, we nevertheless remain on track to meet our long term goals,” said J. Mario Molina, M.D., chief executive officer of Molina Healthcare, Inc. “During the first quarter we closed on five acquisitions and welcomed nearly 700,000 new members to the Molina family. In total, we increased our membership nearly 20% in the span of three months. There were some disappointments this quarter; however, we remain confident that we can reach our long-term goal of 1.5% to 2.0% after-tax margins by the fourth quarter of 2017.”
GUIDANCE:
Molina Healthcare sees FY2016 EPS of $2.50-$2.95, versus the consensus of $3.86. Molina Healthcare sees FY2016 revenue of $17.3-17.4 billion, versus the consensus of $17.13 billion.
For earnings history and earnings-related data on Molina Healthcare (MOH) click here.
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