New management has shown they can’t grow tge business. They made money by accounting tricks and layoffs. Both of those tactics have run their course and now the company is exposed.
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This is what happens when corporate leaders make their teams and frontline employees so unhappy that no ones cares about their work any more. You can’t win the race by beating your horse to death
https://www.healthleadersmedia.com/finance/cigna-molina-and-teladoc-among-healthcares-winners-and-losers-q3
The Long Beach, California–based insurer's premium revenues totaled just over $4 billion, a 5.8% decrease year-over-year; net income fell by $22 million from $197 million to $175 million; and its earnings per diluted share (EPS) slipped down to $2.75.
Part of Molina's EPS decline was due to a $2 million charge on the repayment of convertible notes.
The insurer now projects its full-year EPS in a range between $11.30 to $11.55, eclipsing the previous guidance of $11.20 to $11.50.