Molina Healthcare, Inc. (MOH) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

July 27, 2023 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, and welcome to the Molina Healthcare Second Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note, today’s event is being recorded.

I would now like to turn the conference over to Joe Krocheski, Senior Vice President, Investor Relations. Please go ahead.

Joe Krocheski

Good morning, and welcome to Molina Healthcare’s second quarter 2023 earnings call. Joining me today are Molina’s President and CEO, Joe Zubretsky; and our CFO, Mark Keim.

A press release announcing our second quarter earnings was distributed after the market closed yesterday and is available on our Investor Relations website. Shortly after the conclusion of this call, a replay will be available for 30 days. The numbers to access the replay are in the earnings release. For those who listen to the rebroadcast of this presentation, we remind you that the remarks made are as of today, Thursday, July 27, 2023, and have not been updated subsequent to the initial earnings call.

On this call, we will refer to certain non-GAAP measures. A reconciliation of these measures with the most directly comparable GAAP measures can be found in our second quarter 2023 earnings release.

During our call, we will be making certain forward-looking statements, including, but not limited to, statements regarding our 2023 guidance, Medicaid redeterminations, our recent RFP awards and related revenue growth, our recent acquisitions and M&A activity, our long-term growth strategy and our embedded earnings power and margins.

Listeners are cautioned that all of our forward-looking statements are subject to certain risks and uncertainties that could cause our actual results to differ materially from our current expectations. We advise listeners to review the risk factors discussed in our Form 10-K annual report filed with the SEC as well as the risk factors listed in our Form 10-Q and Form 8-K filings with the SEC. After the completion of our prepared remarks, we will open the call to take your questions.

I will now turn the call over to our Chief Executive Officer, Joe Zubretsky. Joe?

Joe Zubretsky

Thank you, Joe, and good morning. Today we will provide updates on our financial results for the second quarter 2023, our full year 2023 guidance in the context of our second quarter results, Medicaid redeterminations and our growth initiatives, and our strategy for sustaining profitable growth, including our 2024 premium revenue growth drivers.