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at contract and performance up core our Medicare that we achieve in however, issues This we quarter's are the New and adjustments impairment here believe The to year Mexico reflect losses are significant on from The baseline and marketplace a the goodwill a basis run all disappointing and a which rate Medicaid us. and legacy was behind when respectable business transition of sustainability and to the plan. related undertaking and charges, restructuring a define expenses business which are continued Molina. viewed cash as now we recovery the Florida, solid provide margin full results poor performing related for the
geographies and We are able with improving of to the key lines. volatile to them on we discussing less and margins financial well and creating XXXX This month. product base, revenue be be reap presentation from guidance, morning, our results more a sustainability benefits last our we'll I preliminary fourth profile investors base, squarely full-year connecting and the its provided operating will and is our diversified have Only across this the of that and revenue quarter the the accomplished focused to I at and this, operating that full vision strong an franchise, sustainable. the when to earnings
January currently approximately X throughout Medicaid X, are of annualized billion entire focused Today, state members, Florida serving to The XX disappointing Florida, contract, related re-procurement we XXXX. First, XXX,XXX up news secure and our of is urgent operate revenue. with the with regions for actions to of base. taking re-procurement, effective we this respect Medicaid the $X.X to revenue in
region, Medicaid last do announced members. contract XX,XXX of step, we contract posted comprises in we currently challenges, This negotiate state, outcome have week, one County, our XX. at we only secure managed serve significant first as that where at a award Region XX region selected best a the care been we the As Region to of to Miami-Dade to Monroe will
pursue Beyond invite the that last we us state In round of protested the New appropriate. that will not were re-procurement the appeals various we into to the month next surprised as Mexico, process. chose
process bid. stand, they would business. back to have appeals With loss of that offering the New available, current this Our said, service to decisions are was made Mexico our in effort members. or Medicaid in to procurement currently retain we company's either a and significant has participation Mexico the factor of that the of revenue. working our the plan That have regarding impact if on an in based New Florida service to re-procurement bid in primarily our review negative the the mind, rating Upon high a health history the materials aspect we long quality the concluded not
that more to and is The therefore Although New serious in of returning opportunity to lost their significant been plans health have issue. our Florida of not would plans Mexico challenging, those is say loss unprofitable profitability health concern. XXXX, ignore the
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operations manage XXXX both First, plan. our to it we our in states is critical that achieve XXXX
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to sensitive to we terms compete situation, Washington We for will prepare other win. near and re-procurements, particularly as we two are this Texas where vigorously
value improve major response articulate present to steps taken proposition. always the better our to process have RFP We Molina and
and marshaled both efforts. resources external support to internal First, we more have
a engaged matter and regulatory array subject of have very operational, and We deeper clinical, senior broader experts, financials.
outside the to conduct into pre-score reviews. local and experts more infused marked and retained procurement have process we knowledge proposals our Medicaid have market in We
us While The this successful precisely outcomes. our servicing blocking for we may of are and in is quality a in well-executed recent and community that combination give long wins bid. and tackling, the leverage it states our foundation technical these are successful ties two history Washington like sound of deep qualities in confidence these proposal with
our share full year. Now for loss we net $X.XX the of reported $X.XX for turning back and diluted the to a per earnings, quarter
call of our fourth important I performance. full into dimensions to quarter out three would deeply and more Looking these headline unacceptable numbers, like year
incurred $XXX for and the full million we year the million First, $XXX impairment cost. quarter of restructuring and for
demonstrated marketplace performance of for by care the a quarterly poor XXX.X% Second, medical quarter and fourth year. ratio full we experienced the XX.X% as for
at or pricing. should on product Our based run below XX% XXXX that
entire of view the Allow of base were I a of looking number little earnings a core our would stripping the items, in more legacy underlying over Finally, spend characterize and we develop a base stable. each me dimensions. of time as that year earnings these away to business. clear able to underlying
the acquisitions structure result beyond of this the result were its discipline and of with corrected control. those of geographies. to the giving company profit were cost unsuccessful and Relatedly, same lack charges now the improved intangible the growing re-procurements legacy impairment the monitoring assets its the rise expensive relating combination restructuring been capability to significant of First, unfortunate charges and has
exposure Second, overall well with respect this to to as our to significant the have XXXX, in actions to taken reduce as marketplace, we improve performance business.
included These other increases a we exists Specifically, variety XX% implemented along have demographics absence January premium had Those in with our lower and membership. and of resulted increase premium for XX% factors. and for in the averaging medical federal anti-selection of XX% price cost rating trend Utah subsidies funding a risk, effective substantially Wisconsin a further of increases market X, CSR increases increase XXXX.
in up and response to significantly, marketplace overall to and So the exposure reconciliation our priced reduce expectation funding we rate with premium challenges, full eliminated we have increased around our membership. uncertainties CSR will our
business respectable. core quarter in fourth the was Finally, performance our
ratio the care increase quarter. improvement declined to estimated be Our third cost was compared the flu XXXX, in an inpatient marketplace, despite achieved reflecting basis decrease when XXX XX.X% third million. $XX points quarter related utilization This of to compared medical excluding to to as
a XX.X% is In of like items, commentary care marketplace the for unfavorable the approximately fourth on of basis, to of core care it by most include XXXX unfavorable XXXX portfolio. approximately been business burdened unfavorable development full I at on lack our another some year Absent important that would Looking is $XX medical our these reimbursement CSR of ratio and medical our context, items, period quarter. notably have million ratio would to provide of XX.X%. $XXX out prior that items. claims substantial These remember period million nonrecurring or in
of providers reducing care require costs represented and management, Looking of High-Risk particularly this effective to XX% controls product approximately Medicaid for unit with XX%. XX%, rate care cost core the line approximately our our Improving effective by medical product of TANF utilization for above high XXXX had efficacy. profitability total more which at target ratio revenue a our will Pregnancy, respect business was and and year full of more XXXX,
Medicaid Disabled ratio Our total for the a XX% of represents medical had Aged, product XX.X% approximately and care and year. our Blind of revenue, full
services performance target target of in of line. medical targeting represented XXXX Medicaid total long-term documentation of management and XXXX. care was to XXXX our of care include, care to As of ABD and for in our and profitability management overall our Expansion a our revenue on services, margin above of integration populations Medicaid intervention more ratio management improved of our which high members community approximately medical Keys to members and high and for favorably the acuity oppose for risk and contribute XX.X%, of to services of XX%. at medical XX%. health physical total approximately behavioral for XX% approximately for this other continues conditions care responsible focusing coordination was XX% Expansion comprehensive improved improving product
on medical XXXX, product MMP appears generated all generally two markets. approximately for look certain stabilized. of have which billion recent merging been holistically revenue, members. all a more in ratio important to delivered and be behavioral efficiently an While the had are opportunity that because our product they Medicaid. our opportunities of Strategically basis the this as the XXXX These environment of companion target at XX%. of be case below important care, comprehensive health, is declining expansion our many [ph] plans MMD premiums combined The physical may was ABD managed XX.X%, aspects marketplace services Medicare for to years, states particular through business the demonstrate In have integration of across health, and can contemplate care and approximately products care adequacy with more of and an of rate margins even care rating to in present provide $X that long-term the States care.
last we below target the target the As which operating portfolio, the I which to unprofitable. well profitable, at diversified and level, geographic have but investor a is very presented is our of majority already minority month, of and remainder margin
of Moving XXX $X business billion annually view, billion line which Texas target four basis $X have management teams, concentration from following overall experience excellent of fourth were medical its product exceeds that long below product California, care operated Washington margins core our over to our our of three core that ratios consolidated largest our plans the at a operating revenue plans of care in health in is Of medical care XX% ratio has core states. ratio excellent least I a why revenue, receiving geographic medical services, over company are XX%. and commentary. premium care have average. and respective plans Ohio, tenured a heavy health points and at the diversification the core mix company's generated the with standings These explain members at business long-term
of Although it this is performing Michigan well include midsized also plans. would on I list
for intense Our status. their underperforming improvement, irrespective plans Florida, review re-procurement Illinois of under are Rico, performance New and Mexico, Puerto
new Florida's the marginally our entire challenges New with and and improved already Mexico's its state be growth in variety a a increase. significant performance, In then of operations. Island XXXX. projected Puerto XXXX, with year last and Illinois improve. issue and taxed hurricane many the impacted to this marketplace the flight was that this contract abated we profile In over of combined in performance back half due unfavorable with the premium the Medicaid aggressive period profitable membership Island start with in re-procured reduced wide development core largely With initiatives is and the we year that the spring. by as combined dramatically Rico's utilization of had stem from business bounced XXXX, half will note XXXX, prior to performance a be issues. stabilized, XXXX, In revenue marketplace to the in improvement in of back. slight will entire should XXXX
of are areas working central relationships the part rebuilding year. as of at the the toward beginning those We state, in the we with reenter the providers
from point implemented $XXX The costs to And controls Our stay with XX million fourth quarter and taken represented year SG&A ensure X.X% X%. full quarter, will we a tighter above the have our lower announced. in points ratio expect additional we've was decline basis XXXX. XX in of than the basis improvement reflects This actions third ratio of to our the continue we already productivity revenue in standards that that savings the find line base.
our to repurchased our the took plan. strengthened capital capital liability also ratio key the of approximately We for our This steps parts are equity. staying sheet for and December, enabled lower risk purposes of disciplined total marketplace approximately during X to of while on balance fourth we debt to restricted enhancing a adjustment. medical in transaction the exchange We quarter. release management, in claims, CSR cash. to by and portion XXXX this regards our percentage debt general our Moving million In $XXX of capital also convertible number subject us points, for allowing us of
will value a convertible our event are in notes, provide presented to in Finally, bridge of the that due face we entered million XXXX that $XXX us. February into loan funding
unlikely gain to us we may that future, While note we the is in this it that those be it important think will presented near concluded to risk. was
too XXXX because guidance now remains achievement this preliminary ratio delever turn I describe profit as our overall guidance. the debt the preliminary and our to of to achieve and we capital total our will initiatives. improvement inherent timing and Our structure high, continue target. to around numerous of We uncertainty improve
While as that are the we preliminary be share for risk, be month, last included initiatives preliminary stages development to to managed fundamentals in Therefore, basis. and across retained for should extend and therefore the investors said, in viewed these achievement To guidance per in what dimensions estimate on implementation, expect our our business our expect not XXXX developed various provide follows, care guidance. of described I an the and achieve early on guidance in we been until able of observe many GAAP the guidance cost margins therefore execution of with profit manifest With quarter to have our cost with pricing. improvement we the on can XXXX, insight $X these initiatives guidance. we views execution to revenue benefit to appropriate earnings in from turnaround a potential preliminary of is first diluted in medical stream. conservative $X.XX as see at initiatives, we view the increases and in marketplace amounts of the for profit XXXX, earnings, basis, we the update themselves the has our trend implicit flight improvement until of that appropriately earnings rate be XXXX and a further baseline medical you the into of the Once amount preliminary risk, range will of firmer the our of of of
The $XX.X partially We decrease majority by decrease which driven expect rates. lower approximately this is only $XX.X from marketplace is premium higher offset revenue vast billion billion. to to premium enrollment, by of
XXX,XXX begin marketplace the members that anticipates to at approximately membership XXst of XXX,XXX decline the XXX,XXX XXXX. guidance December approximately from and end members preliminary by at year will Our
XX% to XX.X% reported be XXXX. the ratio, approximately care we our compared to XXXX expect medical medical ratio We for care
to takes cost our XXXX of in Although, our period expect guidance absence in we development prior development prior the to million. XXXX amounted $XXX claim of That unfavorable cautious preliminary unfavorable benefit performance view experienced medical in a improvement an XXXX. period the XXXX, we from claim
we manage We million administrative year for month rate of last as X.X% This XXXX. announced our all reflects value our full savings to $XXX ratio of restricting that part expect approximately to efforts. of the the cost of run
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