Clover Health Investments (CLOV) Tops Q3 EPS by 4c
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Clover Health Reports Third Quarter 2022 Financial Results
November 7, 2022 4:05 PM ESTThird quarter Insurance MCR of 86.3% and year-to-date Insurance MCR of 91.7% demonstrate positive momentum
The Company updates 2022 full year guidance to include improved 2022 Insurance MCR range of 93% to 94%
Clover intends to continue to grow Insurance business at above-market rates in 2023 but will moderate growth to prioritize profitability
Company outlines strategic reduction in number of ACO REACH participating physicians in 2023; targeting Non-Insurance MCR below 100%
The Company reports strong liquidity, delaying any requirement for additional capital at least through 2023 and potentially beyond
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