-=Molina Healthcare (MOH) reported earnings on Tue 31 July 2018 (a/h)

Molina Healthcare beats by $1.99, beats on revs; raises FY18 EPS, revs guidance 

• Reports Q2 (Jun) earnings of $3.08 per share, excluding non-recurring items, $1.99 better than the Capital IQ Consensus of $1.09; revenues fell 2.3% year/year to $4.88 bln vs the $4.67 bln Capital IQ Consensus.
• Overall, the medical care ratio improved to 85.3%, from 86.1% in the first quarter of 2018. Excluding the combined benefit of the 2017 Marketplace risk adjustment and cost sharing reduction (CSR) reimbursement, the medical care ratio would have been 87.0% in the second quarter of 2018, compared with 87.2% in the first quarter of 2018. The sequential improvement in the overall medical care ratio was due to a decrease in the Medicaid medical care ratio partially offset by a seasonally higher Marketplace medical care ratio.
• Co raises guidancefor FY18, sees EPS of $7.39-7.59 (Prior $4.24-4.74), excluding non-recurring items, vs. $4.58 Capital IQ Consensus Estimate; sees FY18 revs of ~$18.8 bln (Prior ~$18.7 bln)vs. $18.73 bln Capital IQ Consensus Estimate.