Long Beach, Calif.-based Molina Healthcare recorded $3.17 billion in revenue in the first quarter of this year, up from the $2.07 billion in revenue the health system posted for the first quarter of last year.
Here are four key points from Molina Healthcare's first-quarter financials.
1. Molina's expenses increased in the first quarter. The managed care company's first-quarter 2015 operation expenses were $3.09 billion, up from the $2.04 billion in expenses for the first quarter of 2014.
2. Due to a surge in Medicaid enrollment, Molina's net income grew from $4.5 million in the first quarter of last year to $28.15 million in the first quarter of 2015.
3. Aggregate membership was up 38 percent in the first quarter of 2015 compared to the same period of 2014.
4. "We are very pleased with our first-quarter results, which represent a down payment on the improved profitability we committed to at our investor day this past February," Molina CEO J. Mario Molina, MD, said in a statement. "We are off to a very good start in 2015, and remain confident that we can deliver both top-line and bottom-line growth in 2015."
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