Molina Healthcare Inc. (MOH) has reported a notable increase in its third-quarter profit compared to the previous year, surpassing Wall Street expectations.
The company's net income for the quarter reached $326 million, equating to $5.65 per share, compared to $245 million, or $4.21 per share, in the same period last year.
On an adjusted basis, excluding special items, Molina Healthcare reported earnings of $347 million, or $6.01 per share. This figure surpasses the average analyst expectation of $5.94 per share as compiled by Thomson Reuters.
Revenue for the quarter saw a substantial increase of 21.0%, rising to $10.340 billion from $8.548 billion in the prior year.
A concise overview of Molina Healthcare Inc.'s earnings according to GAAP:
- Earnings (Q3): $326 million compared to $245 million last year.
- Earnings Per Share (EPS) (Q3): $5.65 compared to $4.21 last year.
- Revenue (Q3): $10.340 billion compared to $8.548 billion last year.
**Guidance:** The company has issued a full-year EPS guidance of at least $23.50.
