Molina posts $201M profit: 4 things to know

Molina Healthcare saw improved net income in the fourth quarter of 2018, turning around a net loss in the same quarter a year prior.

Four things to know:

1. Molina posted fourth-quarter net income of $201 million, compared to a net loss of $262 million in the same period a year prior. The difference was due to impairment losses and restructuring costs of $342 million recorded in the fourth quarter of 2017.

2. Molina's revenue fell 5.8 percent to $4.7 billion in the fourth quarter of this year, down from $4.9 billion in the same period last year, as premium and service revenue decreased while membership declined.

3. However, Molina cut its expenses by 16.8 percent to $4.3 billion in the fourth quarter of this year, down from $5.2 billion the year prior. The improvement was due to impairment losses recorded in the fourth quarter of last year.

4. Molina also improved its operating income to $272 million in the fourth quarter of 2018, compared to an operating loss of $269 million in the fourth quarter of 2017.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Top 40 articles from the past 6 months