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EX - 99.1 2 moh2q21_er.htm EX - 99.1 MOLINA® HEALTHCARE News Release Investor Contact : Julie Trudell , Julie.Trudell@molinahealthcare.com , 562-912-6720 Media Contact : Caroline Zubieta , Caroline.Zubieta@molinahealthcare.com , 562-951-1588 Molina Healthcare Reports Second Quarter 2021 Financial Results Increases Full Year 2021 Earnings Guidance Long Beach , Calif , July 28 , 2021 Molina Healthcare , Inc. ( NYSE : MOH ) ( the “ Company ” ) today reported second quarter of 2021 GAAP earnings per diluted share of $ 3.16 and adjusted earnings per diluted share of $ 3.40 . Financial results are summarized below : Quarter ended June 30 , 2021 2020 Six months ended June 30 , 2021 2020 ( In millions , except per - share results ) Premium Revenue $ 6,583 Total Revenue $ 6,800 $ 4,372 $ 4,618 $ 12,889 $ 13,322 $ 8,676 $ 9,167 GAAP : Net Income $ 185 $ 276 $ 413 $ 454 EPS - Diluted $ 3.16 $ 4.65 $ 7.05 $ 7.54 Medical Care Ratio ( MCR ) 88.4 % 82.3 % 87.6 % 84.3 % G & A Ratio 7.1 % 7.5 % 7.2 % 7.2 % After - tax Margin 2.7 % 6.0 % 3.1 % 5.0 % Adjusted : Net Income $ 199 $ 285 $ 459 $ 469 EPS - Diluted $ 3.40 $ 4.79 $ 7.83 $ 7.79 G & A Ratio 6.9 % 7.5 % 7.0 % 7.2 % After - tax Margin 2.9 % 6.2 % 3.4 % 5.1 % See the Reconciliation of Unaudited Non - GAAP Financial Measures at the end of this release . Quarter Highlights • GAAP net income for the second quarter of 2021 was $ 185 million , or $ 3.16 per diluted share . • Adjusted net income for the second quarter of 2021 was $ 199 million , or $ 3.40 per diluted share . • • • • • As of June 30 , 2021 , the Company served approximately 4.7 million members , an increase of 1.1 million members , or 32 % , compared to June 30 , 2020 . Premium revenue was approximately $ 6.6 billion for the second quarter of 2021 , an increase of 51 % compared to the second quarter of 2020 . The net effect of COVID decreased net income by approximately $ 1.00 per diluted share in the second quarter of 2021 . The Company increased its full year 2021 premium revenue guidance to more than $ 25.0 billion , from its previous guidance of more than $ 24.0 billion . The Company increased its full year 2021 adjusted earnings guidance to no less than $ 13.25 per diluted share , from its previous guidance of no less than $ 13.00 per diluted share . -MORE-