Molina Healthcare (MOH) Post Wide Loss, Withdraws Guidance, Announces Restructuring
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Molina Healthcare Announces Second Quarter Results and Restructuring Plan
August 2, 2017 4:16 PM EDTLONG BEACH, Calif.--(BUSINESS WIRE)-- Molina Healthcare, Inc. (NYSE: MOH):
Net loss of $230 million for the quarter, or $4.10 per diluted share. Restructuring plan now underway is expected to reduce annualized run-rate expenses by $300 million to $400 million upon completion in 2018. $200 million total reduction to annualized run-rate expenses resulting from staff reductions expected to be achieved by the end of 2017 in time for full realization in 2018. Annualized salary eliminations of $55 million achieved so far in the third quarter of 2017.... More