Oct 24, 12:36 PM

Molina Healthcare Q3 Revenue at $10.34B, Net Income $5.65; HCA Revenue $17.49B, Net Income $1.27B

Molina Healthcare reported strong financial results for the third quarter of 2024, with premium revenue reaching approximately $9.7 billion, an 18% increase year-over-year. The company's GAAP net income was $5.65 per diluted share, reflecting a 34% rise compared to the previous year. Adjusted net income was reported at $6.01 per diluted share, surpassing Wall Street expectations of $5.81. Additionally, Molina's total revenues were approximately $10.34 billion, exceeding estimates of $9.91 billion. The company reaffirmed its full-year profit and revenue guidance, a contrast to larger peers who recently reported weaker results. Meanwhile, Community Health Systems also announced its third-quarter financial results, although specific figures were not detailed in the tweets. HCA Healthcare reported revenues of $17.49 billion for the same quarter, slightly below expectations, with net income of $1.27 billion or $4.88 per diluted share, which includes an estimated unfavorable impact of $0.15 per share from Hurricane Helene. HCA's adjusted EBITDA was $3.21 billion, also falling short of forecasts.