was and This press Sarah. the can a you see you, to a expectations very quarter, Thank was year. good EPS of release. in as our Adjusted of start ahead $X.XX good the
last XX our consistent was on days, at with was hit few me a items SG&A at my QX. was track one the from DCP and up QX XX% and in billion was most Let mix consistent then with QX The key remainder $XX XXXX. service X.X% of on strong for and HBR of business. and and QX adjusted time year. revenue XXXX spend updated of day at Premium
favorably During reflects increase items; and one, expect in our QX in the a of over impact points XXX we Medicaid basis in quarter. claims. track delay the HBR XX.X% Medicaid pushed the largest well Bill with XXXX prior California, one states, COVID items of two HBR period the Medicaid two which up rate two, XXXX Those was Senate on dealing quarter, a and XX to our as from HBR;
HBR fundamentals. excluding early than HBR better even from was such Overall, expected, our revenue as out-of-period little line flow Medicare quarter was items another than was few was Marketplace a premiums. The Medicare expectations. while stronger QX sound good this commercial forecast. operations cash in internal at the with when was at strong, a with XX.X% XX.X%
not nine to more typical XXXX. process for In X.X forecast our months, could accelerated remainder rigorous process, a we the gone the what XXXX three develop forecast but a the refine last we've for through we just also in to plus detailed of
to Let's tackle and then XXXX XXXX. get
revenue revenue year due is full largely refinement stronger Marketplace. service XXXX. in of Medicaid versus in the to redeterminations XXXX, last our coming improvement of by midpoint and the $XXX.X For Medicaid driven premium of and than billion of timing is XXXX
example, also other April they in as planned, one more September we clarified months the provided And redeterminations, resulting an date updated largest date one month foster we in member April, in around start Xst As XXXX. later care of the clarity start moving Medicaid to resulting states entered Xst. the populations, of our than from had timing
also or position our strong very to leveraging are seize market we We market Marketplace, share. be In pleased carried with at increase quarter to the the not only number Enrollment enrollment one finished but growth X.X million Period, into market SEP, members open end. period and that Special
continue rest grow year. the of expect We to the to
up will that adjustment of on to partial same set members, year is during XXXX those different and SEP To ability found wide acuity SEP to pent-up us distinction, eligibles than for renew that the profile we draw members risk a members Though X/X/XX largely SEP today. for well a had due in below COVID mechanics, enrollees profitability all was open open demand enrollment XXXX. or with the the XXXX have
on Consistent eligibility positioning the risk demographic market The and shared macro factor than mix is considering data and this distribution are subsidy the a has execution year, expected more this earnings encouraging. pools. what positive with call, to overall grown when QX strong. continues and also we Product product individual growth look including
growth XXXX provide this additional this areas to able absorb should are in headwind. we other earnings an of tailwind Overall, for to XXXX offset and help
Medicaid lifting billion the $XXX driven service a another of and to Marketplace. consolidated billion are and XXXX We revenue, midpoint premium approximately by $X.X
HBR by net This to reflects is driven to items. overall XX.X% a range improvement an few XX XXXX revised a Our XX.X%. point basis of
mix Medicaid which HBR. a slight a growth expect a we in has shift in talk due lower previous XXXX as Marketplace, structurally to a versus XX point in basis First of And about all, in we'll there's minute, in guidance. now improvement
money in expect expect an is PDR on get in revised have further be nuance to on estimates, guidance reflects fourth and refined for our Medicare. record in QX that would underwriting or quarter bids will the we that, fundamental we we Premium XXXX. as approximate lose XXXX earnings in $XXX finalize specific latest I also in reflected A a XXXX. XXXX. the of million HBR Based for Advantage call mentioned Medicare Other upon track PDR, and to This than HBR into Reserve good which our Deficiency we XXXX. February
of To be EPS business. adjusted absorbing this demonstrating reserve Medicare we XXXX strength HBR revised the into are premium current this our and clear, -- premium deficiency the guidance,
On the in for of SG&A coupled and other quality with changes with is flip growth mix fees, Sarah in key a SG&A. exchange midpoint our due side, XXXX X.X%. Medicaid part SG&A in of costs more than mentioned, the to investments up rate distribution for the times and to adjusted guidance areas When marketplace X.X
Let the me impact demonstrate to mix.
our why if XXXX revenue if our the SG&A Actually, were in sevens. the rate would asked is forma recently we mix low be Someone we low Xs. in Medicaid, XX% as you pro
to in course, PDP Medicare number franchise, having addition the with one Medicaid, Of number states. one position we marketplace like in members business one over million Advantage our number franchise and across two XX the the
Investment year the QX, in of that in of $XXX we to strong continue and at million. for a was other the remainder midpoint expect income
bought $XXX toward since including year, the million our billion the beginning shares million call back of for post $XXX of goal approximate We the have $X.X QX XXXX.
dividends majority the continue our the to health late to come year. expect plan in of We
diluted XXX share count As today, million of of an we have shares. approximate
it shares. at we the to our parent, plan generate we to cash deploy As buy back
the covered, that range. our XXXX EPS so we adjusted April, guidance inclusive consideration to of sale the at this items our Overall, We stock our to original of closing monetize buyback. $X.XX, able For for XXXX, could Magellan we we we of share were we opportunity lifting the instance, just at received seized in Specialty. least guidance the top of are to deploy
EPS, we Let's to XXXX, that on greater key previously $X.XX based XXXX. were we On are move than targeting XXXX of adjusted reducing to while visibility drivers. $X.XX more upon
While know this right shared prudent XX% target for do we Day. believe XX% today, the algorithm, back upon long-term are our earnings. a based of for Investor December we the what $X.XX, to of the growth with our at to than And determined we we what jump-off this is apply decade, CAGR is with you better believe XXXX to we consistent half point
Medicaid. our outline target. me key Let Starting with XXXX approach to revised assumptions this and
but has has over to X.X transpired of The us past started terms first Xst, clarity populations. and April more what just process each timing the gain in the redeterminations of sequencing approach to months enabled state's on
been of Sarah to As actions. by projected timing have projections, able refine as subpopulation as degree state-by-state, anticipated well mentioned, and also acuity we the subpopulation, rate
projections, are data actuaries. many and state cases, upon from Acuity based in specific the their
in instance, we April, number For to expect for with and/or a are of states levers. shared May those of information redetermine using our to calculate the June. versus files this us acuity they And stayers
the are actuaries, their based rate acknowledgments not subpopulation had the On in partners as of of terms the Medicaid state-by-state, state with projections constructive side are but of many and and the implications. subpopulation, change about actions often by process, including just acuity, redeterminations, departments direct conversations upon We've discussions rate they other unfold. with need the very for rate potential also verbal redeterminations our
as future actions. forecast the rate we of cycle also have thought We timing the about RFP
have of redetermination in claimant are the we the XXXX, in impact the XXXX more we [ph]. our into last on benefit we developed confidence and early with While estimates will cycle, of QX which the net of XXXX still expect
for fact mechanisms. relevant -- MBR were minimum to sharing for to payback factor we corridors expected any or relative acuity specific certain back risk approximately in to payable billion XXXX, shifts states in those That's in $X states. important more One profit
there's rates Finally, states we we approach state XXXX in a Ultimately, for ground to this able expected temporary. by refine expect mismatch a the is other to of redetermination between acuity and are with been XXXX. with revenue words, the it to the better the ebb through In respect and provided historically case, match as to forecasted our flow each expect if be putting and we premium stake though acuity population rates, to timing and the process. has our both the
Medicaid assumptions continuing XXXX our to driven expect some to XXXX. get numbers. revenue To updated annualizing XXXX. drop as shifts, and premium Carolina into puts California by as $XX provide takes XXXX premium let's in in the renewal as Texas the relative the in Now shifts The approximately largely and our expansion XXXX share approximately are of There billion and of in well North previously have we embedded target, revenue redeterminations $XX is we revenue, Star contract some the in in added other county some potential market projected discussed, Plus also population. including billion
were as be originally respect With HBR, recall, to expecting in to Medicaid the will you around XXXX. we XX.X%
latest than Our is XX.X%. approximately better slightly at that forecast
XX XXXX, approximately temporary XX described, of based would put for redeterminations XX.X%. change process we to upon PBM expect initiatives us basis XXXX HBR increase That points the HBR between just of we mismatch the of benefit from now and approximately of Medicaid have an For new and and a XX.X%. timing I in prudent yield other be rate. estimated approximately points built potential Then basis to contract at acuity
are Marketplace, we still bids our refining due that In are summer. Medicare this and
not while little number of XXXX In those for doesn't bid strengthening Marketplace, benefit also our for with track. assumptions to make a positioning one first results with lines longer-term our guarded quarter be one Marketplace we're granular position. pleased the just far were are going the So the each we so getting with but year, from market And quarter too on business. of
marketplace potential positioning for ahead. beyond about and, importantly, first of Wakely chassis margin the the opportunities Suffice late say, bullish as unfolds, look to when early in and in we XXXX, are June, getting we XXXX view for the insight XXXX business July. individual to more growth adjustment data year seizing and We and risk our Marketplace into forward more including performance the get market
on XXXX XXXX final risk received relative was inadequate trend. XX. by for to relative approximately negative advanced rate an The we X.XX% to rates rate Medicare, less clarity final and but us the notice the March still model In
partners Some will to of and into accrue we work provider will some the final our our rate bids. change
We forecast amortization loss in record which of PDR, the pre-tax embedded in inclusive the a XXXX revised XXXX. continue of we is to to target our XXXX, XXXX in expect
indicated growth QX the revenue XXXX we underperformance on described. Stars call, As temporary in trough earnings and Sarah while low and Medicare the membership strategy dual we in -- of Star income dynamic, of preservation towards of a we expectations our a balance which improvement is with XXXX will base scores now geared and
X it's averages While moving average, moving from a known to comes more X.X widely benefit depending to equivalent X that on that X.X contract. of There's X% X% on X% to from stars revenue. economic of with, the the meaningful stars also
current in of low and and more October and from is last to towards X.X membership tilting scoring, and shifting approximately first be have we XX% focus below will membership income our our our D-SNP X.X, contracts XXXX now especially Given stars maximize beyond. as
for temporarily business the construction Advantage Medicare So yet for XXXX, expansion growth a bids back for will margin again, while our half you these driver products. consider submitted we might and Medicare is Once believe of decade. be the haven't under we
from to of $XX revenue we're segments we commercial So this going billion approximately in and billion combine XXXX. for revenue premium for $XX and the XXXX external commercial discussion. XXXX and Medicare consumption, Together, forecasted Medicare in expect
and of XXXX rest XXXX. we throughout Directionally, the marketplace into grow expect to
in to be Medicare result strategy PBPs, hand, composition or will membership, the lower which with Sarah the packages, expect On in plan XXXX, benefit rationalize will Medicare we but consistent certain more outlined. other membership
$XXX which compared to and subject XXXX revenue premium midpoints we When divestitures, $XXX XXXX. total about we our in businesses, represent $X approximately to premium additional add service service other revenue, in approximately expect in of billion billion billion and
guidance in issue it but year, support will redeterminations, greater stronger EPS an believe underlying be XXXX challenges will of to side getting target helpful of the of the details assumptions XXXX, table company We back opportunities some we half formal with other to the full this through we the that to decade. be thought a of of review adjusted would By the seize powering and in the $X.XX. Medicare than later
lowering Marketplace perspective disappointed to reflects Medicare. insights are we have in delivering. informed And XXXX forecast, confidence decisions accelerated we is flexibility also the XXXX updated beyond. our are and revised our that we recent right process gives view make it and XXXX this in for while us target Finally, by Medicaid, outlook, a This and the target an
will $X.XX best in XXXX beyond. exceed anything XXXX to We sacrificing do without for our and
Operator, to let's go Q&A.
