Centene, Molina Beat Expectations in 3Q Amid Medicaid Upheaval

Oct 25
Oct 25, 2024

Centene Corp. and Molina Healthcare, Inc., two of the largest managed Medicaid insurers in the U.S., both beat expectations in their third-quarter earnings reports. While the companies saw higher care utilization among their Medicaid members, their medical loss ratios (MLRs) were better than investors anticipated.

Wells Fargo analyst Stephen Baxter in an Oct. 25 note wrote that Centene’s Medicaid MLR of 93.1% was below the Wall Street consensus of 93.3% and “much better than feared.” Baxter also wrote in an Oct. 24 note that Molina’s Medicaid MLR of 90.5% “was above guidance but by less than feared” following UnitedHealth Group’s and Elevance Health, Inc.’s earnings releases from earlier this month.
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Tim Casey

Tim has been a reporter and editor for newspapers, websites and magazines for more than 20 years, including 10 years covering health care business topics. He has a deep knowledge of the managed care industry and pharmacy benefit management. He also has experience covering medical conferences and clinical and legislative health care issues. In 2014, the Society for Advancing Business Editing and Writing selected Tim as one of 15 journalists to participate in a national symposium on the Affordable Care Act. Tim has a B.A. in Psychology from the University of Notre Dame and an M.B.A. from Georgetown University.