Molina Healthcare, Inc. (NYSE:MOH) Q4 2018 Earnings Conference Call Transcript
Feb 12, 2019 • 08:30 am ET
Good morning and welcome to the Molina Healthcare Fourth Quarter 2018 Earnings Conference Call. All participants will be in listen-only mode. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Ryan Kubota, Vice President of Investor Relations. Mr. Kubota, please go ahead.
Thank you, operator. Hello, everyone and thank you for joining us. The purpose of this call is to discuss Molina Healthcare's financial results for the fourth quarter ended December 31, 2018. The Company issued its earnings release, reporting fourth quarter 2018 results last night after the market closed. And this release is now posted for viewing on our company website.
On the call with me today are Joseph Zubretsky, our President and Chief Executive Officer; and Tom Tran, our Chief Financial Officer. After the completion of our prepared remarks, we will open the call to take your questions. (Operator Instructions)
Our comments today will contain forward-looking statements under the Safe Harbor provisions of the Private Securities Litigation Reform Act. All of our forward-looking statements are based on our current expectations and assumptions, which are subject to numerous risk factors and could cause our actual results to differ materially.
A description of such risk factors can be found in our earnings release, and our reports filed with the Securities and Exchange Commission, including our Form 10-K Annual Report, our Form 10-Q quarterly reports and our Form 8-K current reports. These reports can be accessed under the Investor Relations tab of the company's website or on the SEC's website. All forward-looking statements made during today's call, represent our judgment as of February 12, 2019 and we disclaim any obligation to update such statements, except as required by the securities laws.
This call is being recorded and a 30 day replay of the conference call will be available at our company's website molinahealthcare.com. I would now like to turn the call over to our Chief Executive Officer, Joseph Zubretsky.
Thank you. Ryan, and thank you all for joining us this morning. Last night, we reported earnings per diluted share for the fourth quarter of $3.01 and $10.61 for the full-year ending December 31, 2018. For the full year 2018, we produced pre-tax earnings of $999 million and after-tax earnings of $707 million, resulting in pre-tax and after-tax margins of 5.3% and 3.7% respectively on a reported basis.
As these results indicate, we have accomplished much over the last year, as we executed the first phase of our margin recovery and sustainability plan. The rapid improvement in our operating margin profile, has allowed us to shift our focus to driving our profit improvement initiatives for continued margin expansion, while we are quickly pivoting to achieving top-line revenue growth.
The quarter itself was very strong, with pure performance earnings per share of $3.82 and an after tax margin of 5.4%, continuing the momentum we established early in the year. All-in-all, we are very pleased with the results for the quarter. The scope of our