LONG BEACH, Calif. (AP) — LONG BEACH, Calif. (AP) — Molina Healthcare Inc. (MOH) on Wednesday reported fourth-quarter earnings of $56 million.
On a per-share basis, the Long Beach, California-based company said it had profit of 96 cents. Earnings, adjusted for non-recurring costs, were $4.10 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $4.06 per share.
The provider of Medicaid-related services posted revenue of $8.22 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $7.86 billion.
For the year, the company reported profit of $792 million, or $13.55 per share. Revenue was reported as $31.97 billion.
Molina expects full-year earnings to be $19.75 per share, with revenue expected to be $33 billion.
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