AJ Rice

“I was I was thinking if you're at a pre-tax margin of roughly 1.6% now, that's definitely better than what some of your major peers are talking about.”

“I wonder if we could flesh out a little more of what's underlying that. You said you think you could get, this is the bottom in Medicaid margin. Is it dependent upon Medicaid margin improvement next year?”

“I might go back to the commercial business. I think the risk portion, you guys have indicated that maybe that's operating at a below 5% margin. Part of that's the IDR issues that you've highlighted.”

“Maybe the follow-up, you mentioned on the prepared remarks, you'd be at 3.3 times leverage by the end of the year, three times by the end of next year. is sort of three times a steady state that you're comfortable with.”

“First, just to ask about your margin assumption. Obviously, this quarter there's a lot of puts and takes, but it sounds like you're 10.9 in aggregate. You're going for a 6.5 to 7% even down margin in the third quarter.”