Molina Healthcare Cuts 2015 Adj. EPS Outlook - Quick Facts

(RTTNews) - Molina Healthcare, Inc. (MOH) Monday updated its outlook for 2015. The company expects adjusted earnings per share of $2.90 and reported earnings per share of $2.35. For fiscal 2015, the company expects total revenue of $14.3 billion.

The company had said in February that it expects net income per share of $2.35, adjusted net income per share of $4.60 and total revenue of $14.3 billion for fiscal 2015.

The update is to include the impact of improvements in the company's medical margin, the recently announced expansion in the State of Michigan, a proposed offering of common stock, and increased accounting dilution from its convertible notes due to the Company's stock trading price.

Analysts polled by Thomson Reuters look for earnings of $2.63 per share on revenues of $14.29 billion.

Separately, the company said it has commenced an underwritten public offering of 5 million shares of its common stock. In connection with the offering, the company intends to grant the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock.

The company plans to use the net proceeds of the offering for general corporate purposes, which may include the repayment of debt and funding for acquisitions.