Good day, and welcome to the Molina Healthcare Second Quarter 2020 Earnings Conference Call. [Operator Instructions]
I would now like to turn the conference over to Julie Trudell, Senior Vice President of Investor Relations at Molina Healthcare. Please go ahead.
Good morning and welcome to Molina Healthcare's second quarter 2020 earnings call. Joining me today are Molina's President and CEO, Joe Zubretsky; and our CFO, Tom Tran. A press release announcing our second quarter earnings was distributed yesterday after the market closed and is available on our Investor Relations website. Shortly after the conclusion of the call, a replay of this call will be available for 30 days. The numbers to access the replay are in the earnings release. For those who listen to the rebroadcast of this presentation, we remind you that the remarks made herein are as of today Friday, July 31, 2020, and have not been updated subsequent to the initial earnings call. In this call, we will refer to certain non-GAAP measures. A reconciliation of these measures with the most directly comparable GAAP measures can be found in our second quarter 2020 press release.
During our call, we will be making certain forward-looking statements, including but not limited to statements regarding the COVID-19 pandemic and the economic environment, recent acquisitions, 2020 guidance, and our longer term outlook. Listeners are cautioned that all of our forward-looking statements are subject to certain risks and uncertainties that can cause actual results to differ materially from our current expectations. We advise listeners to review the risk factors discussed in our Form 10-K Annual Report for the 2019 year filed with the SEC, as well as the risk factors listed in our Form 10-Q and our Form 8-K filings with the SEC. After the completion of our prepared remarks, we will open up the call to take your questions.
I would now like to turn the call over to our Chief Executive Officer, Joe Zubretsky. Joe?
Thank you, Julie, and good morning. Today, we would like to provide you with updates on a number of topics. First, we will cover the enterprise-wide financial results for the second quarter; second and relatedly, we will discuss the impacts of the COVID-19 pandemic on various aspects of our business; third, we will convey our guidance in the context of our second quarter results and this new but temporary operating environment; and fourth and lastly, we will provide a premium revenue growth outlook for 2021 which is approximately 20% as we now emerge from pivoting to growth to activating our growth phase.
Let me start with specific second quarter highlights. Last night we reported earnings per diluted share for the second quarter of $4.65 with net income of $276 million. These results were supported by an MCR of 82.3%, a G&A ratio of 7.5% and an after tax margin of 6%. Our year-to-date earnings per diluted share is now $7.54 representing 66% of our full-year guidance. The COVID-19 pandemic had an impact on many aspects of
Senior Vice President of Investor Relations
President and Chief Executive Officer
Chief Financial Officer
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