Molina Healthcare Q3 Profit Doubles, Cuts 2014 Outlook - Quick Facts

(RTTNews) - Molina Healthcare, Inc. (MOH) reported third-quarter net income of $16.12 million or $0.33 per share, higher than $7.57 million or $0.16 per share in the prior-year quarter.

Excluding items, adjusted earnings from continuing operations was $40.52 million or $0.83 per share, compared to $33.82 million or $0.71 per share in the year-ago quarter.

On average, 17 analysts polled by Thomson Reuters expected the company to earn $0.42 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter increased to $2.32 billion from $1.58 billion in the same quarter last year. Analysts expected revenues of $2.60 billion.

Looking ahead to the fiscal 2014, the company currently projects adjusted earnings to be below the lower end of its previous forecast range of $4.00 to $4.50 per share. Analysts currently expect full-year earnings of $1.86 per share.