NYSE$OSCR
Oscar Health Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Oscar Health reported strong second quarter results, closing out the best six months in the company's history.
Oscar Health reported strong second quarter results with robust revenue growth, improved operating margin, and strong bottom line performance. The company updated its full year 2024 guidance, projecting revenue to be in the $9.0 billion to $9.1 billion range and Adjusted EBITDA to be in the $160 million to $210 million range.
- Total Revenue of $2.2 billion, a 46% increase YoY
- Medical Loss Ratio of 79.0%, a 90 bps improvement YoY
- SG&A Expense Ratio of 19.6%, a 260 bps improvement YoY
- Net income attributable to Oscar of $56.2 million, or $0.20 of diluted earnings per share, a $71.7 million improvement YoY
Headline financials
Revenue & EPS history
Oscar Health · Revenue · Quarterly
$2.22B
Forward guidance
Oscar is updating its full year 2024 outlook to reflect first half outperformance. The Company projects Revenue to be in the $9.0 billion to $9.1 billion range, $700 million above the prior range of $8.3 billion to $8.4 billion, and Adjusted EBITDA to be in the $160 million to $210 million range, $35 million higher than the prior range of $125 million to $175 million. Additionally, the Company now projects a lower SG&A Expense Ratio in the range of 19.75% to 20.25%, and a modestly higher Medical Loss Ratio in the range of 80.5% to 81.5%.
Tailwinds
- Revenue to be in the $9.0 billion to $9.1 billion range
- Revenue is $700 million above the prior range of $8.3 billion to $8.4 billion
- Adjusted EBITDA to be in the $160 million to $210 million range
- Adjusted EBITDA is $35 million higher than the prior range of $125 million to $175 million
- SG&A Expense Ratio in the range of 19.75% to 20.25%
Headwinds
- Medical Loss Ratio in the range of 80.5% to 81.5%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+3.7%
Avg return
Earnings day
+5.6%
Avg return
5 days after
+7.5%
Avg return
30 days after
64%
16 / 25 earnings
Positive
+30.0%
Q1 2025
Best reaction
-23.9%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.7% | +22.6% | +36.6% | |
| Q4 2025 | +1.7% | +6.0% | +2.7% | |
| Q3 2025 | -2.8% | -12.8% | -1.5% | |
| Q1 2025 | +30.0% | +28.7% | +18.0% | |
| Q4 2024 | +3.1% | -3.7% | +4.5% | |
| Q3 2024 | -12.9% | -12.8% | +0.4% | |
| Q2 2024 | +7.2% | +4.4% | -1.4% | |
| Q1 2024 | +9.3% | +14.1% | +2.8% | |
| Q4 2023 | +22.7% | +27.5% | +7.7% | |
| Q3 2023 | +23.5% | +24.5% | +42.0% | |
| Q2 2023 | +8.6% | +1.9% | -10.5% | |
| Q1 2023 | -8.8% | -6.6% | +17.8% | |
| Q4 2022 | +21.0% | +36.2% | -3.9% | |
| Q3 2022 | -23.9% | -4.5% | -11.3% | |
| Q2 2022 | +19.9% | +21.1% | -3.7% | |
| Q1 2022 | -8.9% | -2.0% | -25.0% | |
| Q4 2019 | +6.3% | +2.5% | +39.1% | |
| Q4 2021 | +2.4% | +15.6% | +21.9% | |
| Q3 2020 | -2.4% | -6.3% | -12.7% | |
| Q3 2021 | -23.3% | -25.2% | -33.0% | |
| Q2 2020 | -16.4% | -11.8% | +19.4% | |
| Q2 2021 | -0.9% | -12.0% | +17.9% | |
| Q4 2020 | +15.2% | +14.5% | +23.1% | |
| Q1 2020 | +15.2% | +14.5% | +23.1% | |
| Q1 2021 | +3.6% | +4.2% | +14.0% |
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