Molina Healthcare delivered a solid first quarter with $2.35 EPS on $10.2 billion revenue, reaffirming full-year guidance amid a challenging medical environment.

• Adjusted pretax margin of 1.6% reflects disciplined cost management despite a 92% Medicaid MCR and a favorable medical cost trend of 5% for 2026.
• Medicare MCR stood at 89.8%, with successful transition of Duals and strategic exit from MAPD for 2027.
• Marketplace membership of 305,000 exceeds guidance, driven by stability in renewal members within the silver tier.
• Full-year 2026 guidance of $42 billion premium revenue and at least $5 EPS reaffirmed, with upcoming updates after Q2 results.
• Conservative stance on political/regulatory impacts, with plans to detail a 3-year outlook at Investor Day, highlighting opportunities for margin expansion and revenue growth.