Thank you, on with Julie you topics. will updates several we morning. provide good and Today,
for update We XXXX our guidance, quarter XXXX, the we initiatives results for summarize will the the of we future. will financial second our present our and will and status outlook growth
Let with reported diluted G&A The which XX.X% continued second per quarter basis management ratio $X.X of produced of night, billion. COVID me our net reflecting meeting of the second margin managing by scale revenue our demonstrates to by challenges care adjusted quarter X.X% us allowed ratio a approximately managed ratio effect points. We decreased cost growth. expectations. $X. X.X% an the after-tax through share second premium highlights. performance earnings adjusted of with of adjusted net medical the $XXX $X.XX We harvest by medical produced increased in diluted discipline The to income net benefits that share of substantial start the solid Last and we adjusted income XXX for per quarter cost million pandemic-related while
year. operating summary, growth revenue. allowed drive the highlighted earnings, to performance full our a our growth with the executed generated year integrated as all ratio, continue we we first billion our MCR, well, in of of second we margin projected representing squarely and performance. revenue in annual delivered half year-over-year approximately all In businesses, after-tax XX% accomplished by year-to-date approximately quarter guidance our pleased are successfully $X strategy. We premium this six-month Our of expectations. And XX% a line and an X% and X.X% solid adjusted year-to-date G&A were This earnings as to in XX.X% with produce us
our second highlighting commentary me quarter some Let performance. provide
that First, I they are year-over-year year. typical in meaningful less comparisons be note would a than
quarter year of impacted by of the pandemic was the COVID of the current the was significant contrast, distorted last positive the early characterized and the quarter crisis. of The full of COVID In by net quarter negatively first phase that effect was that second net effect COVID.
result, ended are quarter the XX,XXX members million a over an quarter, of revenue the membership approximately of more this first of a X.X XXXX. the portfolio. our the increase XXXX, the meaningful and reflecting performance As over reflection of members, first sequential increase produced quarter will X% increased of across comments morning. with focus of We In quarter premium billion, underlying be the $X.X comparisons second business our we
was the XXXX. to This have Medicaid Medicaid although primarily of the at an increase Our over quarter growth members, million of the enrollment approximately catalyst end due of quarter redeterminations, suspension to first continuing moderated. of increase was this X.X seems XX,XXX the
end Our an growth the line the X,XXX Medicare membership in of quarter, at was our with XXX,XXX increase and plan. of
at end enrollment the quarter, representing over due membership open the XXX,XXX growth quarter period. XXXX of XX,XXX the rates of lower-than-expected first attrition during to Our Marketplace extended of the were and membership additions
our performance the second by in quarter to line medical now Turning margin of business.
achieved Our care ratio medical XX%. of a Medicaid business
the While impacts well to execute of underlying cost the risk fundamentals. corridors, with pandemic medical the the dealing on as and as the are temporary impact on we continuing we utilization of continue
performing across contracts dimensions Our suite product of Medicaid is well-diversified portfolio well. all of the state
cost We underlying deliver to to reasonable is care populations. environment at rate high-quality a acuity particularly high stable. The continue
members achieving to management outcomes for while appropriate hallmark Our continue capabilities financial clinical deliver results. strong medical our
a were results of care Our Medicare having excellent medical ratio posted XX.X%.
lives D-SNP in continue to the and margins produce in programs. MMP We MCRs our of and excellent product portfolio this both high-acuity
score depressed line for the results were risk utilization results and underlying temporary COVID due moderately with squarely our the to softness the expectations. in year, current despite were our Although
California, nearly impacted points of Michigan, including the a COVID medical the pressure Our two Washington. MCR first basis Marketplace members the and in growing XX.X% clinical ongoing by to new in disproportionately were affected we our top and quarter. of half the on of each margins significantly the to subsides. and care Texas care, With Many portfolio in have results been ability we as impacts pretax posted ratio across COVID-related continue cost regions should the and attracted by of direct first achieve pandemic In excellent of revenue line while we second demonstrate through of pandemic. managing produce financial and successfully can margins results the quarter mid-single-digit quarters, as XXX our short, entire the
our XXXX revenue. with Turning to beginning guidance, premium
increase premium more revenue XXXX, For full our previous a increase now billion, XXXX billion project over year be than $XX $X XX% to and from guidance. a the we
emergency the fourth increases has each beyond the period end of that September, the and it the public extended month includes the pause public emergency for guidance the revenue we full premium benefiting of expected health the on our $XXX health of Specifically, projecting our year now revenue month Medicaid extension quarter. redeterminations, outlook now which associated membership million. through from Recall by enrollment are
the and Our strong also revenue to pharmacy Kentucky from previously. updated to their changes carve-out premium of and due guidance pharmacy-related initiatives retaining California, postponement contemplates performance mentioned respective the New reflecting retention and Marketplace and impact enrollment York revenue in updated
XXXX members. to with expect end marketplace XXX,XXX approximately We
any have Cigna the We guidance and of from revenue impact our acquisitions. excluded premium Affinity
close to in revenue to the to acquisition our in acquisition we expect guidance and representing January XXXX the premium Affinity close Cigna the expect fourth XXXX. We quarter, upside in
guidance. earnings to now Turning
at of to of full increase track the end year of less raising our per year year earnings after-tax full share. for per earnings than expect and share, than our We prior margins no guidance now are no remain adjusted guidance least XXXX less from with We $XX.XX an $XX on X%.
our revenue the per Specifically, now of be to for margin, our our increase the $X.XX offset and increase guidance the the full associated earnings share year. by the $X guidance in a net reflects cost expect XXXX underlying increase which we to in COVID, outperformance,
been The to a of have earnings projecting back our any utilization We half variability due in Delta forecast. factors. variant cautious exogenous variety to adds
disproportionately the the rates. contagious, unvaccinated. Older cohorts population more While and highly vulnerable have vaccination higher affects variant significantly Delta
lower potential As hospital admissions proportionately moderating result admission variant costs, in fewer a result, the per Delta and cases impact. the
level return the addition, This quickly is infection create levels of utilization an and to of and remains inherent added consumer COVID susceptibility COVID depend corridors capacity risk-sharing the of of element marketplace unknown COVID-related upon emergence variants. to how to normal what and the the to In levels. member provider will will it regard and their behavior with any extent acuity There economy, new uncertainty strength new an variability.
Turning now to growth an initiatives. update our on
an see to aspect continue many our strategy. which We opportunities actionable of our acquisition pipeline, growth in remains important
deployed is of fully list targets an in and working Our team businesses. core active is our health M&A plan
buying focused revenue Our on membership properties. on stable acquisition focused streams, underperforming particularly strategy and remains
we earnings and ensure expected. to cost to fully deployed and successfully we meet accretion team the our we earnings deliver exceed accretion integration operating our also on M&A Molina are acquired commitments. to or structure, infrastructure track Our is To-date, properties migrating
to continue Medicaid pursue new We to opportunities. procurement
aggressive proposal and in-state game We a have contract ground winning capabilities, winning writing platform. an
that are in will We contribute contracts growth win and confident continue new trajectory that XXXX to our will to we XXXX.
to current continued comments states. corridors data phenomenon corridors momentum public points have stable some assessment did and eliminated The California, Medicaid confirmed bids COVID declared Pandemic-related emergency Michigan, pandemic in scores. next Finally, environment York, is for The temporary, as Medicare XXXX outcomes fully now as related the South health rate our the business. the current We for sharing the outlook score be risk fiscal have of Carolina shortfall towards in the state support about is years New rational. with XXXX the already the other and year's risk longer-term for belief to will eliminated, that risk current been similar account our subsides.
original it the performance proceeding and better be embedded to accretion business, confidence our bullish integrations continue the is We context the of achieving than operational incremental businesses. of in earnings are high estimates power exceeding our pandemic In meaningful. exists the them. have of we today, and or planned The our maturing, acquisitions about as acquired even and subsiding as possibly, the
we about net run share will growth natural earnings X%. Investor after pro XX. above the with of and initial these to would sharing the longer-term per share earnings guidance. at Day, the and the outlook power earnings Investor after-tax September mid-teens effect Day for approximately an comfortably produce an plans incremental our adjusted our forma in short, per our $X adjusted outlook. At XXXX at margin revenue constraints, XXXX you look With more embedded provide relaxation I more our future of our on strategy temporary now of forward COVID, negative is In increased rate, our
our with three net enterprise And, style, achieving expectations. has We as income view playbook of long-term and business, and updated results. business lines our detailed hallmark will will for as targets, also operating three with growth for of our lines share margin, metrics per provide for our provide importantly, you revenue an those earnings for you of been we our
not The are and all and environments the are to the maintain remains will inherently our a line during grow legislative positive an to profile but how population We declare show social goals, say, social catalysts we will to attractive net achieve profile, have regulatory an Suffice top need demographic high-growth continue businesses U.S. we the just global you political, of specificity, margin and of transparency an the manage. demonstrated in ability even the and significant to safety pandemic. it we and them.
come. to will achieve As to nearly the I to and With foundation, dedication everything Molina conclude the call we XX,XXX in our I for the gratitude for color everything and skill my want that, express some on to continue additional I Keim, our the years over will Their Mark? and form financials. we Mark management remarks, have service, team turn steadfast colleagues. my achieved to
