LONG BEACH, Calif. (AP) _ Molina Healthcare Inc. (MOH) on Monday reported fourth-quarter profit of $168 million.
The Long Beach, California-based company said it had profit of $2.67 per share. Earnings, adjusted for one-time gains and costs, were $2.73 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.62 per share.
The provider of Medicaid-related services posted revenue of $4.27 billion in the period, which met Street forecasts.
For the year, the company reported profit of $737 million, or $11.47 per share. Revenue was reported as $16.83 billion.
Molina expects full-year earnings to be $11.20 to $11.70 per share, with revenue expected to be $18.3 billion.
Molina shares have decreased almost 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $129.35, a fall of 5.5% in the last 12 months.