Molina Healthcare Rises Slightly After Q4 Disappointment
Molina Healthcare (NYSE: MOH) is up less than one percent in after hours trading after the company reported its fourth quarter results.
The company reported a Q4 EPS of $(0.20), which is considerably lower than the Street estimate of $(0.05).
Earnings per share were down 137 percent from the year-ago period.
Revenue came in at $1.71 billion versus the Street estimate of $1.8 billion. Sales were up eight percent year-over-year.
Molina's CEO, J. Mario Molina, M.D., referred to 2013 as a year of both opportunity and challenge. He said that he believes the company has laid the foundation for success in 2014 and beyond by:
Increasing medical margins.
- Securing Duals Demonstration contracts in five states.
- Expanding its footprint into South Carolina.
- Building the "robust" administrative infrastructure that the company will need going forward.
Year-to-date, Molina Healthcare has remained flat, losing a mere 0.06 percent as of market close on Friday, February 7. The stock has risen more than 17 percent over the last 12 months.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
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