Healthcare insurance company Molina Healthcare (NYSE: MOH) will be reporting results this Wednesday after market close. Here’s what investors should know.
Molina Healthcare met analysts’ revenue expectations last quarter, reporting revenues of $10.8 billion, down 3.1% year on year. It was a slower quarter for the company, with full-year revenue guidance missing analysts’ expectations significantly. It lost 457,000 customers and ended up with a total of 5.03 million.
Is Molina Healthcare a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Molina Healthcare’s revenue to decline 4.9% year on year, a reversal from the 15.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Molina Healthcare rarely misses Wall Street’s revenue estimates.
Looking at Molina Healthcare’s peers in the healthcare providers & services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. UnitedHealth posted flat year-on-year revenue, beating analysts’ expectations by 1.2%, and Elevance Health reported flat revenue, topping estimates by 2.5%. UnitedHealth traded up 1.8% following the results while Elevance Health was down 12.6%.
Read our full analysis of UnitedHealth’s results here and Elevance Health’s results here.
There has been positive sentiment among investors in the healthcare providers & services segment, with share prices up 9.9% on average over the last month. Molina Healthcare is up 16.5% during the same time and is heading into earnings with an average analyst price target of $210.76 (compared to the current share price of $230).
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