Molina Healthcare, Inc.

Molina Healthcare, Inc. Earnings Recaps

MOH Health Care 3 recaps
Q1 2026 Apr 23, 2026

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.

Key takeaways
  • 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.
Full recap
Q3 2025 Oct 25, 2025

Molina Healthcare's Q3 2025 results fell short of expectations, primarily due to heightened utilization costs in its Marketplace segment, resulting in a decreased full-year EPS guidance.

Key takeaways
  • Adjusted EPS for Q3 was $1.84 on premium revenue of $10.8 billion, leading to a revised annual EPS guidance of approximately $14, down from $19.
  • Consolidated Medical Care Ratio (MCR) for Q3 stood at 92.6%, with notable pressures from higher medical costs, especially in the Marketplace segment at 95.6%.
  • Medicaid continued to show resilience with an MCR of 92% and a pretax margin of 2.6%, despite rising medical cost trends driven by behavioral health and high-cost drugs.
  • Q4 guidance projects $0.35 EPS, with Medicaid anticipated to contribute $3 per share amidst broader losses from Medicare and Marketplace.
  • The company plans to build on its 2026 outlook through growth in existing markets and new Medicaid contracts, particularly in Georgia and Texas.
Full recap
Q2 2025 Jul 25, 2025

Molina Healthcare reported Q2 2025 adjusted earnings per share of $5.48, with premium revenue at $10.9 billion, amidst continuing medical cost pressures reflected in an elevated medical care ratio (MCR) of 90.4%.

Key takeaways
  • The consolidated MCR for the quarter reached 90.4%, attributed to unprecedented medical cost trends, particularly in behavioral health and high-cost pharmaceuticals.
  • Full year 2025 adjusted EPS guidance revised down to a floor of $19, a significant reduction from previous expectations, largely driven by marketplace dynamics.
  • Medicaid MCR of 91.3% exceeds long-term targets, while Medicare and Marketplace MCRs also reflect increased utilization pressures.
  • The company maintains a conservative outlook, emphasizing potential for earnings upside if cost trends moderate in the second half of the year.
Full recap