LONG BEACH, Calif. / Feb 07, 2024 / Business Wire / Molina Healthcare, Inc. (NYSE: MOH) (the “Company”) today reported fourth quarter 2023 GAAP earnings per diluted share of $3.70 and adjusted earnings per diluted share of $4.38. The Company also reported full year 2023 GAAP earnings per diluted share of $18.77 and adjusted earnings per diluted share of $20.88. Financial results are summarized below:
| Three months ended |
| Year ended | ||||
| December 31, |
| December 31, | ||||
| 2023 |
| 2022 |
| 2023 |
| 2022 |
|
|
|
|
|
|
|
|
(In millions, except per-share results) | |||||||
Premium Revenue | $8,362 |
| $7,917 |
| $32,529 |
| $30,883 |
Total Revenue | $9,048 |
| $8,223 |
| $34,072 |
| $31,974 |
|
|
|
|
|
|
|
|
GAAP: |
|
|
|
|
|
|
|
Net Income | $216 |
| $56 |
| $1,091 |
| $792 |
EPS – Diluted | $3.70 |
| $0.96 |
| $18.77 |
| $13.55 |
Medical Care Ratio (MCR) | 89.1% |
| 88.3% |
| 88.1% |
| 88.0% |
G&A Ratio | 7.1% |
| 7.6% |
| 7.2% |
| 7.2% |
After-tax Margin | 2.4% |
| 0.7% |
| 3.2% |
| 2.5% |
|
|
|
|
|
|
|
|
Adjusted: |
|
|
|
|
|
|
|
Net Income | $255 |
| $240 |
| $1,213 |
| $1,048 |
EPS – Diluted | $4.38 |
| $4.10 |
| $20.88 |
| $17.92 |
G&A Ratio | 7.0% |
| 7.5% |
| 7.2% |
| 7.1% |
After-tax Margin | 2.8% |
| 2.9% |
| 3.6% |
| 3.3% |
|
|
|
|
|
|
|
|
See the Reconciliation of Unaudited Non-GAAP Financial Measures at the end of this release. | |||||||
Full Year Highlights
“We are very pleased with our fourth quarter and full year results,” said Joseph Zubretsky, President and Chief Executive Officer. “Our 2023 performance reflects the successful execution of our growth strategy which positions us to achieve sustainable and profitable growth in 2024 and beyond.”
Premium Revenue
Premium revenue was approximately $32.5 billion for the full year 2023, an increase of 5% year over year. The higher premium revenue reflects the impact of acquisitions and new RFP wins, partially offset by Medicaid redeterminations.
Net Income
GAAP net income for the full year 2023 was $18.77 per diluted share, an increase of 39% year over year. Adjusted net income for the full year 2023 was $20.88 per diluted share, an increase of 17% year over year.
Medical Care Ratio (MCR)
General and Administrative Expense Ratio
The G&A ratio and the adjusted G&A ratio for the full year 2023 were both 7.2%, reflecting continued cost discipline and new business implementation spending throughout the year relating to new contract wins.
Balance Sheet
Cash and investments at the parent company were $742 million as of December 31, 2023 compared to $375 million as of December 31, 2022.
Days in claims payable at December 31, 2023 was 50.
Cash Flow
Operating cash flow for the year ended December 31, 2023 was $1,662 million, compared to $773 million for the year ended December 31, 2022. The increase in 2023 cash flow was due to the growth in operations and net earnings from organic and new RFP starts and acquisitions, accompanied by the net impact of timing differences in government receivables and payables.
2024 Guidance
Premium revenue for the full year is expected to be approximately $38 billion, an increase of approximately 17% from the full year 2023.
The Company expects its full year adjusted earnings per share in 2024 to be at least $23.50 per share, representing approximately 13% growth over the full year 2023.
Guidance reflects the continued realization of embedded earnings and underlying organic growth. Guidance metrics are summarized below:
| Full Year 2024 Guidance |
| |
| Premium Revenue | $38.0B |
|
| Total Revenue | $39.6B |
|
| GAAP Net Income | $1,278M |
|
| Adjusted Net Income | $1,366M |
|
| GAAP EPS – Diluted | >$22.00 |
|
| Adjusted EPS – Diluted | >$23.50 |
|
| Diluted weighted average shares | 58.1M |
|
|
|
|
|
| Year End Total Membership | 5.7M |
|
| Medicaid | 5.1M |
|
| Medicare | 270K |
|
| Marketplace | 370K |
|
|
|
|
|
| MCR | 88.2% |
|
| GAAP G&A Ratio | 7.1% |
|
| Adjusted G&A Ratio | 7.0% |
|
| Effective Tax Rate | 25.7% |
|
| GAAP After-tax Margin | 3.2% |
|
| Adjusted After-tax Margin | 3.4% |
|
|
|
|
|
| See the Reconciliations of Unaudited Non-GAAP Financial Measures at the end of this release. | ||
Conference Call
Management will host a conference call and webcast to discuss Molina Healthcare’s fourth quarter and year ended December 31, 2023 results at 8:00 a.m. Eastern Time on Thursday, February 8, 2024. The number to call for the interactive teleconference is (877) 883-0383 and the confirmation number is 4221213. A telephonic replay of the conference call will be available through Thursday, February 15, 2024, by dialing (877) 344-7529 and entering confirmation number 3687293. A live audio broadcast of this conference call will be available on Molina Healthcare’s website, molinahealthcare.com. A 30-day online replay will be available approximately an hour following the conclusion of the live broadcast.
About Molina Healthcare
Molina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. For more information about Molina Healthcare, please visit molinahealthcare.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This earnings release and the Company’s accompanying oral remarks contain forward-looking statements. The Company intends such forward-looking statements to be covered under the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements provide current expectations of future events based on certain assumptions, and all statements other than statements of historical fact contained in this earnings release and the Company’s accompanying oral remarks may be forward-looking statements. In some cases, you can identify forward-looking statements by words such as “guidance,” “future,” “anticipates,” “believes,” “embedded,” “estimates,” “expects,” “growth,” “intends,” “plans,” “predicts,” “projects,” “will,” “would,” “could,” “can,” “may,” or the negative of these terms or other similar expressions. Forward-looking statements contained in this earnings release include, but are not limited to, statements regarding its 2024 guidance, expectations with respect to continued realization of embedded earnings and underlying organic growth, and our management’s plans and objectives for future operations and business strategy.
Actual results could differ materially due to numerous known and unknown risks and uncertainties. These risks and uncertainties are discussed under the headings “Forward-Looking Statements,” and “Risk Factors,” in the Company’s Annual Report on Form 10‑K for the year ended December 31, 2022, which is on file with the U.S. Securities and Exchange Commission (the “SEC”), and in the Company’s other filings with the SEC, including its Quarterly Reports on Form 10-Q for the periods ended March 31, 2023, June 30, 2023, and September 30, 2023, which are on file with the SEC, and its Annual Report on Form 10-K for the year ended December 31, 2023, to be filed with the SEC.
These reports can be accessed under the investor relations tab of the Company’s website or on the SEC’s website at sec.gov. Given these risks and uncertainties, the Company can give no assurances that its forward-looking statements will prove to be accurate, or that any other results or developments projected or contemplated by its forward-looking statements will in fact occur, and the Company cautions investors not to place undue reliance on these statements. All forward-looking statements in this release represent the Company’s judgment as of February 7, 2024, and, except as otherwise required by law, the Company disclaims any obligation to update any forward-looking statement to conform the statement to actual results or changes in its expectations.
MOLINA HEALTHCARE, INC. | |||||||||||
| Three Months Ended |
| Year Ended | ||||||||
| December 31, |
| December 31, | ||||||||
| 2023 |
| 2022 |
| 2023 |
| 2022 | ||||
|
|
|
|
|
|
|
| ||||
| (In millions, except per-share amounts) | ||||||||||
Revenue: |
|
|
|
|
|
|
| ||||
Premium revenue | $ | 8,362 |
| $ | 7,917 |
| $ | 32,529 |
| $ | 30,883 |
Premium tax revenue |
| 552 |
|
| 227 |
|
| 1,069 |
|
| 873 |
Investment income |
| 114 |
|
| 61 |
|
| 394 |
|
| 143 |
Other revenue |
| 20 |
|
| 18 |
|
| 80 |
|
| 75 |
Total revenue |
| 9,048 |
|
| 8,223 |
|
| 34,072 |
|
| 31,974 |
Operating expenses: |
|
|
|
|
|
|
| ||||
Medical care costs |
| 7,454 |
|
| 6,992 |
|
| 28,669 |
|
| 27,175 |
General and administrative expenses |
| 645 |
|
| 629 |
|
| 2,462 |
|
| 2,311 |
Premium tax expenses |
| 552 |
|
| 227 |
|
| 1,069 |
|
| 873 |
Depreciation and amortization |
| 43 |
|
| 47 |
|
| 171 |
|
| 176 |
Impairment |
| — |
|
| 208 |
|
| — |
|
| 208 |
Other |
| 38 |
|
| 15 |
|
| 128 |
|
| 58 |
Total operating expenses |
| 8,732 |
|
| 8,118 |
|
| 32,499 |
|
| 30,801 |
Operating income |
| 316 |
|
| 105 |
|
| 1,573 |
|
| 1,173 |
Other expenses, net: |
|
|
|
|
|
|
| ||||
Interest expense |
| 27 |
|
| 27 |
|
| 109 |
|
| 110 |
Total other expenses, net |
| 27 |
|
| 27 |
|
| 109 |
|
| 110 |
Income before income tax expense |
| 289 |
|
| 78 |
|
| 1,464 |
|
| 1,063 |
Income tax expense |
| 73 |
|
| 22 |
|
| 373 |
|
| 271 |
Net income | $ | 216 |
| $ | 56 |
| $ | 1,091 |
| $ | 792 |
|
|
|
|
|
|
|
| ||||
Net income per share – Diluted | $ | 3.70 |
| $ | 0.96 |
| $ | 18.77 |
| $ | 13.55 |
|
|
|
|
|
|
|
| ||||
Diluted weighted average shares outstanding |
| 58.2 |
|
| 58.4 |
|
| 58.1 |
|
| 58.5 |
MOLINA HEALTHCARE, INC. | |||||||
| December 31, | ||||||
|
| 2023 |
|
|
| 2022 |
|
| Unaudited |
|
| ||||
| (Dollars in millions, except per-share amounts) | ||||||
ASSETS | |||||||
Current assets: |
|
|
| ||||
Cash and cash equivalents | $ | 4,848 |
|
| $ | 4,006 |
|
Investments |
| 4,259 |
|
|
| 3,499 |
|
Receivables |
| 3,104 |
|
|
| 2,302 |
|
Prepaid expenses and other current assets |
| 331 |
|
|
| 277 |
|
Total current assets |
| 12,542 |
|
|
| 10,084 |
|
Property, equipment, and capitalized software, net |
| 270 |
|
|
| 259 |
|
Goodwill and intangible assets, net |
| 1,449 |
|
|
| 1,390 |
|
Restricted investments |
| 261 |
|
|
| 238 |
|
Deferred income taxes, net |
| 227 |
|
|
| 220 |
|
Other assets |
| 143 |
|
|
| 123 |
|
Total assets | $ | 14,892 |
|
| $ | 12,314 |
|
|
|
|
| ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
Current liabilities: |
|
|
| ||||
Medical claims and benefits payable | $ | 4,204 |
|
| $ | 3,528 |
|
Amounts due government agencies |
| 2,294 |
|
|
| 2,079 |
|
Accounts payable, accrued liabilities and other |
| 1,252 |
|
|
| 889 |
|
Deferred revenue |
| 418 |
|
|
| 359 |
|
Total current liabilities |
| 8,168 |
|
|
| 6,855 |
|
Long-term debt |
| 2,180 |
|
|
| 2,176 |
|
Finance lease liabilities |
| 205 |
|
|
| 215 |
|
Other long-term liabilities |
| 124 |
|
|
| 104 |
|
Total liabilities |
| 10,677 |
|
|
| 9,350 |
|
Stockholders’ equity: |
|
|
| ||||
Common stock, $0.001 par value, 150 million shares authorized; outstanding: 58 million shares at each of December 31, 2023, and December 31, 2022 |
| — |
|
|
| — |
|
Preferred stock, $0.001 par value; 20 million shares authorized, no shares issued and outstanding |
| — |
|
|
| — |
|
Additional paid-in capital |
| 410 |
|
|
| 328 |
|
Accumulated other comprehensive loss |
| (82 | ) |
|
| (160 | ) |
Retained earnings |
| 3,887 |
|
|
| 2,796 |
|
Total stockholders’ equity |
| 4,215 |
|
|
| 2,964 |
|
Total liabilities and stockholders’ equity | $ | 14,892 |
|
| $ | 12,314 |
|
MOLINA HEALTHCARE, INC. | |||||||
| Year Ended | ||||||
| December 31, | ||||||
|
| 2023 |
|
|
| 2022 |
|
|
|
|
| ||||
| (In millions) | ||||||
Operating activities: |
|
|
| ||||
Net income | $ | 1,091 |
|
| $ | 792 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| ||||
Depreciation and amortization |
| 171 |
|
|
| 176 |
|
Deferred income taxes |
| (31 | ) |
|
| (66 | ) |
Share-based compensation |
| 115 |
|
|
| 103 |
|
Impairment |
| — |
|
|
| 208 |
|
Other, net |
| 2 |
|
|
| 8 |
|
Receivables |
| (778 | ) |
|
| (95 | ) |
Prepaid expenses and other current assets |
| (69 | ) |
|
| (124 | ) |
Medical claims and benefits payable |
| 580 |
|
|
| 153 |
|
Amounts due government agencies |
| 196 |
|
|
| (428 | ) |
Accounts payable, accrued liabilities and other |
| 328 |
|
|
| 55 |
|
Deferred revenue |
| 59 |
|
|
| (11 | ) |
Income taxes |
| (2 | ) |
|
| 2 |
|
Net cash provided by operating activities |
| 1,662 |
|
|
| 773 |
|
Investing activities: |
|
|
| ||||
Purchases of investments |
| (1,433 | ) |
|
| (1,913 | ) |
Proceeds from sales and maturities of investments |
| 772 |
|
|
| 1,398 |
|
Net cash paid in business combinations |
| (3 | ) |
|
| (134 | ) |
Purchases of property, equipment, and capitalized software |
| (84 | ) |
|
| (91 | ) |
Other, net |
| 4 |
|
|
| (50 | ) |
Net cash used in investing activities |
| (744 | ) |
|
| (790 | ) |
Financing activities: |
|
|
| ||||
Common stock withheld to settle employee tax obligations |
| (60 | ) |
|
| (54 | ) |
Common stock purchases |
| — |
|
|
| (400 | ) |
Contingent consideration liabilities settled |
| — |
|
|
| (20 | ) |
Other, net |
| 2 |
|
|
| 33 |
|
Net cash used in financing activities |
| (58 | ) |
|
| (441 | ) |
Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents |
| 860 |
|
|
| (458 | ) |
Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period |
| 4,048 |
|
|
| 4,506 |
|
Cash, cash equivalents, and restricted cash and cash equivalents at end of period | $ | 4,908 |
|
| $ | 4,048 |
|
MOLINA HEALTHCARE, INC. | |||
| December 31, | ||
| 2023 |
| 2022 |
Ending Membership by Segment: |
|
|
|
Medicaid | 4,542,000 |
| 4,754,000 |
Medicare | 172,000 |
| 156,000 |
Marketplace | 281,000 |
| 348,000 |
Total | 4,995,000 |
| 5,258,000 |
| Three Months Ended December 31, | ||||||||||||||||
| 2023 |
| 2022 | ||||||||||||||
| Premium Revenue |
| Medical Margin |
| MCR (1) |
| Premium Revenue |
| Medical Margin |
| MCR (1) | ||||||
|
|
|
|
|
| ||||||||||||
Medicaid | $ | 6,782 |
| $ | 731 |
| 89.2 | % |
| $ | 6,421 |
| $ | 813 |
| 87.3 | % |
Medicare |
| 1,057 |
|
| 71 |
| 93.3 |
|
|
| 948 |
|
| 77 |
| 91.8 |
|
Marketplace |
| 523 |
|
| 106 |
| 79.8 |
|
|
| 548 |
|
| 35 |
| 93.8 |
|
Consolidated | $ | 8,362 |
| $ | 908 |
| 89.1 | % |
| $ | 7,917 |
| $ | 925 |
| 88.3 | % |
| Year Ended December 31, | ||||||||||||||||
| 2023 |
| 2022 | ||||||||||||||
| Premium Revenue |
| Medical Margin |
| MCR (1) |
| Premium Revenue |
| Medical Margin |
| MCR (1) | ||||||
|
|
|
|
|
| ||||||||||||
Medicaid | $ | 26,327 |
| $ | 2,973 |
| 88.7 | % |
| $ | 24,827 |
| $ | 2,981 |
| 88.0 | % |
Medicare |
| 4,179 |
|
| 388 |
| 90.7 |
|
|
| 3,795 |
|
| 437 |
| 88.5 |
|
Marketplace |
| 2,023 |
|
| 499 |
| 75.3 |
|
|
| 2,261 |
|
| 290 |
| 87.2 |
|
Consolidated | $ | 32,529 |
| $ | 3,860 |
| 88.1 | % |
| $ | 30,883 |
| $ | 3,708 |
| 88.0 | % |
| __________________ | |||||||||||||||||
(1) The MCR represents medical costs as a percentage of premium revenue. | |||||||||||||||||
MOLINA HEALTHCARE, INC. | |||||||
The Company’s claims liabilities include additional reserves to account for moderately adverse conditions based on historical experience and other factors including, but not limited to, variations in claims payment patterns, changes in utilization and cost trends, known outbreaks of disease, and large claims. The Company’s reserving methodology is consistently applied across all periods presented. The amounts displayed for “Components of medical care costs related to: Prior year” represent the amounts by which the original estimates of claims and benefits payable at the beginning of the year were more than the actual liabilities based on information (principally the payment of claims) developed since those liabilities were first reported. The following table presents the components of the change in medical claims and benefits payable for the periods indicated: | |||||||
| Year Ended | ||||||
| December 31, | ||||||
|
| 2023 |
|
|
| 2022 |
|
|
|
|
| ||||
| Unaudited | ||||||
Medical claims and benefits payable, beginning balance | $ | 3,528 |
|
| $ | 3,363 |
|
Components of medical care costs related to: |
|
|
| ||||
Current year |
| 29,096 |
|
|
| 27,459 |
|
Prior year |
| (427 | ) |
|
| (284 | ) |
Total medical care costs |
| 28,669 |
|
|
| 27,175 |
|
Payments for medical care costs related to: |
|
|
| ||||
Current year |
| 25,615 |
|
|
| 24,345 |
|
Prior year |
| 2,734 |
|
|
| 2,670 |
|
Total paid |
| 28,349 |
|
|
| 27,015 |
|
Acquired balances, net of post-acquisition adjustments |
| 96 |
|
|
| 12 |
|
Change in non-risk and other provider payables |
| 260 |
|
|
| (7 | ) |
Medical claims and benefits payable, ending balance | $ | 4,204 |
|
| $ | 3,528 |
|
|
|
|
| ||||
Days in Claims Payable (1) |
| 50 |
|
|
| 47 |
|
| __________________ | |
(1) | The Company calculates Days in Claims Payable using claims incurred but not paid, or IBNP, and other fee-for-service payables included in medical claims and benefits payable, and quarterly fee-for-service related costs included in medical care costs within the Company’s consolidated financial statements. |
MOLINA HEALTHCARE, INC. | |||||||||||||||||||||||||||||||
The Company believes that certain non-GAAP (generally accepted accounting principles) financial measures are useful supplemental measures to investors in comparing the Company’s performance to the performance of other public companies in the health care industry. The non-GAAP financial measures are also used internally to enable management to assess the Company’s performance consistently over time. These non-GAAP financial measures, presented below, should be considered as supplements to, and not as substitutes for or superior to, GAAP measures. | |||||||||||||||||||||||||||||||
Adjustments represent additions and deductions to GAAP net income as indicated in the table below, which include the non-cash impact of amortization of acquired intangible assets, acquisition-related expenses, and the impact of certain expenses and other items that management believes are not indicative of longer-term business trends and operations. | |||||||||||||||||||||||||||||||
Adjusted G&A Ratio represents the GAAP G&A ratio, recognizing adjustments. | |||||||||||||||||||||||||||||||
Adjusted net income represents GAAP net income recognizing the adjustments, net of tax. The Company believes that adjusted net income is helpful to investors in assessing the Company’s financial performance. | |||||||||||||||||||||||||||||||
Adjusted net income per diluted share represents adjusted net income divided by weighted average common shares outstanding on a fully diluted basis. | |||||||||||||||||||||||||||||||
Adjusted after-tax margin represents adjusted net income, divided by total revenue. | |||||||||||||||||||||||||||||||
| Three Months Ended December 31, |
| Year Ended December 31, | ||||||||||||||||||||||||||||
2023 |
| 2022 |
| 2023 |
| 2022 | |||||||||||||||||||||||||
| Amount |
| Per Diluted Share |
| Amount |
| Per Diluted Share |
| Amount |
| Per Diluted Share |
| Amount |
| Per Diluted Share | ||||||||||||||||
GAAP Net income | $ | 216 |
|
| $ | 3.70 |
|
| $ | 56 |
|
| $ | 0.96 |
|
| $ | 1,091 |
|
| $ | 18.77 |
|
| $ | 792 |
|
| $ | 13.55 |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
Amortization of intangible assets | $ | 22 |
|
| $ | 0.37 |
|
| $ | 21 |
|
| $ | 0.35 |
|
| $ | 85 |
|
| $ | 1.47 |
|
| $ | 77 |
|
| $ | 1.32 |
|
Acquisition-related expenses (1) |
| 3 |
|
|
| 0.05 |
|
|
| 11 |
|
|
| 0.18 |
|
|
| 7 |
|
|
| 0.12 |
|
|
| 49 |
|
|
| 0.83 |
|
Impairment |
| — |
|
|
| — |
|
|
| 208 |
|
|
| 3.57 |
|
|
| — |
|
|
| — |
|
|
| 208 |
|
|
| 3.56 |
|
Other (2) |
| 27 |
|
|
| 0.47 |
|
|
| — |
|
|
| — |
|
|
| 68 |
|
|
| 1.17 |
|
|
| — |
|
|
| — |
|
Subtotal, adjustments |
| 52 |
|
|
| 0.89 |
|
|
| 240 |
|
|
| 4.10 |
|
|
| 160 |
|
|
| 2.76 |
|
|
| 334 |
|
|
| 5.71 |
|
Income tax effect |
| (13 | ) |
|
| (0.21 | ) |
|
| (56 | ) |
|
| (0.96 | ) |
|
| (38 | ) |
|
| (0.65 | ) |
|
| (78 | ) |
|
| (1.34 | ) |
Adjustments, net of tax |
| 39 |
|
|
| 0.68 |
|
|
| 184 |
|
|
| 3.14 |
|
|
| 122 |
|
|
| 2.11 |
|
|
| 256 |
|
|
| 4.37 |
|
Adjusted net income | $ | 255 |
|
| $ | 4.38 |
|
| $ | 240 |
|
| $ | 4.10 |
|
| $ | 1,213 |
|
| $ | 20.88 |
|
| $ | 1,048 |
|
| $ | 17.92 |
|
| __________________ | |
(1) | Reflects non-recurring costs associated with acquisitions, including various transaction and certain integration costs. |
(2) | The year ended December 31, 2023, reflects a non-recurring credit loss on 2022 Marketplace risk adjustment receivables due to the insolvency of an issuer in the Texas risk pool, non-recurring litigation costs and one-time termination benefits. The year ended December 31, 2022, includes certain non-recurring costs associated with gain on lease termination and disposal of fixed assets. |
MOLINA HEALTHCARE, INC. | |||||||
| Amount |
| Per Diluted Share (2) | ||||
GAAP Net income | $ | 1,278 |
|
| $ | 22.00 |
|
Adjustments: |
|
|
| ||||
Amortization of intangible assets |
| 94 |
|
|
| 1.62 |
|
Acquisition-related expenses |
| 21 |
|
|
| 0.35 |
|
Subtotal, adjustments |
| 115 |
|
|
| 1.97 |
|
Income tax effect (1) |
| (27 | ) |
|
| (0.47 | ) |
Adjustments, net of tax |
| 88 |
|
|
| 1.50 |
|
Adjusted net income | $ | 1,366 |
|
| $ | 23.50 |
|
| __________________ | |
(1) | Income tax effect calculated at the statutory tax rate of approximately 23.9%. |
(2) | Computations assume approximately 58.1 million diluted weighted average shares outstanding. |
| Last Trade: | US$294.73 |
| Daily Change: | 1.21 0.41 |
| Daily Volume: | 1,161,132 |
| Market Cap: | US$16.860B |
November 18, 2024 October 23, 2024 October 16, 2024 July 23, 2024 | |
Amneal Pharmaceuticals is a fully-integrated essential medicines company. We make healthy possible through the development, manufacturing, and distribution of generic and specialty pharmaceuticals. The Company has a diverse portfolio of over 250 products in its Generics segment and is expanding across...
CLICK TO LEARN MORE
Recursion Pharmaceuticals is a clinical stage TechBio company leading the space by decoding biology to industrialize drug discovery. Enabling its mission is the Recursion OS, a platform built across diverse technologies that continuously expands one of the world’s largest....
CLICK TO LEARN MORE
