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MOLINA HEALTHCARE Molina Healthcare Reports Third Quarter 2021 Financial Results October 27 , 2021 Reaffirms Full Year 2021 Earnings Guidance LONG BEACH , Calif .-- ( BUSINESS WIRE ) -- Oct . 27 , 2021-- Molina Healthcare , Inc. ( NYSE : MOH ) ( the " Company " ) today reported third quarter of 2021 GAAP earnings per diluted share of $ 2.46 and adjusted earnings per diluted share of $ 2.83 . Financial results are summarized below : 2021 Quarter ended September 30 , 2020 Nine months ended September 30 , 2021 2020 ( In millions , except per - share results ) Premium Revenue $ 6,800 $ 4,768 Total Revenue $ 7,040 $ 5,021 $ 19,689 $ 20,362 $ 13,444 $ 14,188 GAAP : Net Income $ 143 $ 185 $ 556 $ 639 EPS - Diluted $ 2.46 $ 3.10 $ 9.51 $ 10.65 Medical Care Ratio ( MCR ) 88.9 % 85.9 % 88.1 % 84.9 % G & A Ratio 7.5 % 7.3 % 7.3 % 7.3 % After - tax Margin 2.0 % 3.7 % 2.7 % 4.5 % Adjusted : Net Income EPS - Diluted G & A Ratio After - tax Margin $ 164 $ 201 $ 623 $ 670 $ 2.83 $ 3.36 $ 10.66 $ 11.15 7.3 % 7.3 % 7.1 % 7.2 % 2.3 % 4.0 % 3.1 % 4.7 % See the Reconciliation of Unaudited Non - GAAP Financial Measures at the end of this release . Quarter Highlights • GAAP net income for the third quarter of 2021 was $ 143 million , or $ 2.46 per diluted share . • Adjusted net income for the third quarter of 2021 was $ 164 million , or $ 2.83 per diluted share . • As of September 30 , 2021 , the Company served approximately 4.8 million members , an increase of 805,000 members , or 20 % , compared to September 30 , 2020 . • Premium revenue was approximately $ 6.8 billion for the third quarter of 2021 , an increase of 43 % compared to the third quarter of 2020 . • The net effect of COVID decreased net income by approximately $ 1.00 per diluted share in the third quarter of 2021 . • The Company increased its full year 2021 premium revenue guidance to no less than $ 26.5 billion . • The Company reaffirmed its full year 2021 adjusted earnings guidance of no less than $ 13.25 per diluted share . " We are pleased with our third quarter and year - to - date performance . With the backdrop of a continuing pandemic , we executed well , delivered solid operating earnings , and continued to drive our growth strategy , " said Joseph Zubretsky , president and CEO of Molina Healthcare . " The Nevada contract award and the AgeWell acquisition reflect that the components of our growth engine are well established and working . " New York Acquisitions On October 7 , 2021 , the Company announced that it has entered into a definitive agreement to acquire the Medicaid Managed Long Term Care business of AgeWell New York . As of August 31 , 2021 , AgeWell served approximately 13,000 managed long - term services and supports members , with full - year 2020 premium revenue of approximately $ 700 million . On October 25 , 2021 , the Company announced the closing of its acquisition of Affinity Health Plan . Premium Revenue Premium revenue was approximately $ 6.8 billion for the third quarter of 2021 , an increase of 43 % compared to the third quarter of 2020. The higher premium revenue reflects increased organic membership in all lines of business , along with the impact of acquisitions . Net Income Net income for the third quarter was $ 143 million , or $ 2.46 per diluted share , compared to $ 185 million , or $ 3.10 per diluted share , in the third quarter