Financial Data and Key Metrics Changes - The company reported an adjusted loss per share of $2.75 on premium revenue of $10.7 billion for Q4 2025, which was below expectations due to strong trend pressure in Medicare and Marketplace, along with retroactive items in Medicaid totaling $2 per share [6][19] - For the full year 2025, premium revenue was $43 billion, reflecting an 11% year-over-year growth, while adjusted earnings per share were $11.03, with a pretax margin of 1.6% [7][8] - The Medicaid Medical Care Ratio (MCR) for Q4 was 93.5%, and for the full year, it was 91.8% with a pretax margin of 2.8% [9][21] Business Line Data and Key Metrics Changes - In Medicaid, the MCR for Q4 was 93.5%, impacted by retroactive premium rate actions, while the adjusted MCR was 92.3% with a pretax margin of 2% [7][20] - The Medicare MCR for Q4 was 97.5%, with elevated utilization affecting margins, while the full year MCR was 92.4% [21] - The Marketplace MCR was 99% for Q4, influenced by high utilization and prior period claim settlements, with a full year MCR of 90.6% [22] Market Data and Key Metrics Changes - The company secured a historic RFP win in Florida, expected to yield $6 billion in annual run rate premium, complementing previous contract wins in Wisconsin, Georgia, and Texas, contributing over $9 billion in Medicaid premium [11] - The company anticipates 2026 premium revenue of approximately $42 billion, slightly lower than 2025, with growth from the Florida CMS contract offset by a planned reduction in the Marketplace segment [12][29] Company Strategy and Development Direction - The company aims to focus on dual-eligible members in Medicare, planning to exit the traditional MAPD product for 2027 [14] - The acquisition pipeline remains active, with the company looking to capitalize on opportunities in a challenging operating environment [12] - The company projects a low single-digit margin in Medicaid for 2026, indicating confidence in future rate restoration and earnings potential [17] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment in the 2025 results but remains confident in the long-term outlook, expecting Medicaid rates and medical cost trends to reach equilibrium [10][17] - The company believes the 2026 forecast for Medicaid represents a trough for managed Medicaid margins, with potential for recovery in subsequent years [17] - Management highlighted that every 100 basis points on the Medicaid MCR is worth nearly $5 per share, indicating significant upside potential [17] Other Important Information - The company reported a capital foundation that remains strong, with a parent company cash balance of approximately $223 million at year-end [23] - The adjusted G&A ratio for Q4 was 6.9%, reflecting disciplined cost management [22] Q&A Session Summary Question: Variance in Medicaid margins across states and potential exit considerations - Management indicated that rates are generally underfunded across the portfolio, with no current plans for exits from any states [36] Question: Adjustments to benefit design in Medicaid - Management noted some sporadic adjustments but no wholesale shifts in benefit design across states [42][48] Question: Membership attrition assumptions for 2026 - Management expects a 2% membership attrition, attributing the decline to program integrity and tightening enrollment processes [50][52] Question: Size of Medicaid expansion enrollment and attrition sources - The Medicaid expansion population is approximately 1.3 million members, with expected attrition of 15%-20% due to new work requirements [59][60] Question: Positive and negative dynamics affecting 2026 guidance - Management believes there are no significant negative dynamics, with a focus on potential upside from rate adjustments and cost trends [62][64]

Financial Data and Key Metrics Changes - The company reported an adjusted loss per share of $2.75 on $10.7 billion of premium revenue for Q4 2025, which was below expectations due to strong trend pressure in Medicare and Marketplace, along with retroactive items in Medicaid totaling $2 per share [6][19] - For the full year 2025, premium revenue was $43 billion, representing an 11% year-over-year growth, while adjusted earnings per share were $11.03, with a pretax margin of 1.6% [7][8] - The Medicaid MCR for Q4 was 93.5%, impacted by unfavorable retroactive premium rate actions, while the full year MCR was 91.8% with a pretax margin of 2.8% [7][21] Business Line Data and Key Metrics Changes - In Medicaid, the MCR for Q4 was 93.5%, and adjusting for retroactive items, it restates to 92.3% with a pretax margin of 2% [19][20] - The Medicare MCR for Q4 was 97.5%, reflecting elevated utilization of LTSS and high-cost drugs, while the full year MCR was 92.4% [21] - The Marketplace MCR for Q4 was 99%, impacted by elevated utilization and prior period claim settlements, with a full year MCR of 90.6% [22] Market Data and Key Metrics Changes - The company secured a historic RFP win in Florida, expected to yield $6 billion in annual run rate premium, complementing previous contract wins in Wisconsin, Georgia, and Texas, representing over $9 billion of Medicaid premium [10][11] - The company anticipates 2026 premium revenue of approximately $42 billion, slightly lower than 2025, driven by new contracts and planned reductions in the Marketplace segment [12][13] Company Strategy and Development Direction - The company aims to focus on dual-eligible members in Medicare, planning to exit the traditional MAPD product for 2027 [14] - The acquisition pipeline contains actionable opportunities, with the company remaining opportunistic about deploying capital for accretive acquisitions [12] - The company expects Medicaid rates and medical cost trends to eventually reach equilibrium, with a forecast for low single-digit margins in Medicaid [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term outlook for the business despite disappointing 2025 results, citing that the medical cost trend in 2025 was an anomaly [10][17] - The company believes that Medicaid rates are underfunded by 300-400 basis points and anticipates that actuarial soundness will prevail, allowing for target margins to be achieved [17][18] - Management expects 2026 to be a trough year for managed Medicaid margins, projecting a low single-digit margin rather than losses [17] Other Important Information - The company reported a capital foundation remains strong, with a parent company cash balance of approximately $223 million at year-end [23] - The adjusted G&A ratio for Q4 was 6.9%, reflecting disciplined cost management [22] Q&A Session Summary Question: Variance in Medicaid margins across states and potential exit considerations - Management indicated that rates are generally underfunded across the portfolio, and there are no states where an exit is being contemplated [37] - The negative retro adjustments in California were due to situational factors, including a retroactive corridor for undocumented populations and a risk adjustment update [38][39] Question: Adjustments to benefit design in Medicaid - Management noted some sporadic adjustments to benefit design but emphasized that there is no wholesale shift occurring [48] Question: Membership attrition assumptions for 2026 - Management projected a 2% membership attrition, believing that the effects of redetermination are largely over [51][54] Question: Size of Medicaid expansion enrollment and attrition sources - The Medicaid expansion population is about 1.3 million members, with expected attrition of 15%-20% due to new policies [59][60] Question: Potential negative dynamics affecting 2026 guidance - Management acknowledged that while there are potential upside components, they believe rates at 4% are a floor, with no significant downside expected [64]

Financial Data and Key Metrics Changes - The company reported an adjusted loss per share of $2.75 on premium revenue of $10.7 billion for Q4 2025, which was below expectations due to strong trend pressure in Medicare and Marketplace, along with retroactive items in Medicaid totaling $2 per share [4][5][18] - For the full year 2025, premium revenue was $43 billion, representing an 11% year-over-year growth, while adjusted earnings per share were $11.03 with a pretax margin of 1.6% [5][6][19] - The Medicaid MCR for Q4 was 93.5%, impacted by unexpected retroactive premium rate actions, while the full year MCR was 91.8% with a pretax margin of 2.8% [5][19] Business Line Data and Key Metrics Changes - In Medicaid, the MCR for Q4 was 93.5%, and adjusting for retroactive items, it restates to 92.3% with a pretax margin of 2% [5][19] - The Medicare MCR for Q4 was 97.5%, reflecting elevated utilization of LTSS and high-cost drugs, while the full year MCR was 92.4% [19][20] - The Marketplace MCR was 99% for Q4, impacted by elevated utilization and prior period claim settlements, with a full year MCR of 90.6% [20] Market Data and Key Metrics Changes - The company secured a historic RFP win in Florida, expected to yield $6 billion in annual run rate premium, complementing previous contract wins in Wisconsin, Georgia, and Texas, representing over $9 billion of Medicaid premium [10] - The company anticipates 2026 premium revenue of approximately $42 billion, slightly lower than 2025, driven by the new Florida CMS contract and higher revenues in Medicare, offset by a planned reduction in Marketplace [11][27] Company Strategy and Development Direction - The company aims to focus on dual-eligible members in Medicare, planning to exit the traditional MAPD product for 2027 [12] - The acquisition pipeline contains actionable opportunities, with the company remaining opportunistic about deploying capital to accretive acquisitions [11] - The company expects to achieve a low single-digit margin in Medicaid, with confidence in the long-term outlook for the business as rates and trends are expected to reach equilibrium [16] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment in the 2025 results but remains confident in the operating platform as the rate environment returns to equilibrium [5][16] - The company believes the medical cost trend in 2025 was an anomaly and anticipates a moderation in Medicaid cost trends for 2026 [12][16] - Management highlighted that every 100 basis points on the Medicaid MCR is worth nearly $5 per share, indicating significant potential for margin recovery [16] Other Important Information - The company reported a capital foundation remains strong, with a parent company cash balance of approximately $223 million at year-end [22] - The adjusted G&A ratio for Q4 was 6.9, reflecting disciplined cost management [20] Q&A Session Summary Question: Is there a large variance in Medicaid margins across states, and are there any states where the company is contemplating an exit? - Management indicated that rates are generally underfunded across the portfolio, and there is no state where an exit is being contemplated [34][36] Question: What were the drivers of the negative retro adjustments in California? - Management explained that the adjustments were event-driven, related to the undocumented population and a risk adjustment update in L.A. County [36][37] Question: Are states allowing adjustments to benefit design? - Management noted that some states are reintroducing tighter utilization controls, but there is no wholesale shift in benefit design [41][47] Question: What is the company's assumption for membership attrition in 2026? - Management projected a 2% membership attrition, offset by new members from the Florida contract, and believes the redetermination effects are largely over [49][50] Question: How does the company view the trend assumptions for 2026? - Management expressed confidence in a 5% trend for 2026, citing that core trend includes various factors and is based on historical data [71][74]

Molina Healthcare stock plunged after a disappointing fourth-quarter earnings report. ...

Molina Healthcare shares plunged about 30% in premarket trading on Friday after the U.S. health insurer forecast 2026 profit at less than half of Wall Street expectations as medical costs rose across ... ...

Molina (MOH) reported $11.38 billion in revenue for the quarter ended December 2025, representing a year-over-year increase of 8.3%. EPS of -$2.75 for the same period compares to $5.05 a year ago.The reported revenue represents a surprise of +5.32% over the Zacks Consensus Estimate of $10.8 billion. With the consensus EPS estimate being $0.43, the EPS surprise was -733.2%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

分组1 - Molina reported a quarterly loss of $2.75 per share, significantly below the Zacks Consensus Estimate of $0.43, representing an earnings surprise of -733.20% [1] - The company posted revenues of $11.38 billion for the quarter ended December 2025, exceeding the Zacks Consensus Estimate by 5.32%, and showing an increase from $10.5 billion year-over-year [2] - Over the last four quarters, Molina has surpassed consensus revenue estimates four times, but has only exceeded EPS estimates once [2] 分组2 - The stock's immediate price movement will depend on management's commentary during the earnings call, with Molina shares up about 2.6% year-to-date compared to the S&P 500's gain of 0.5% [3] - The current consensus EPS estimate for the upcoming quarter is $4.61 on revenues of $11.53 billion, and for the current fiscal year, it is $13.77 on revenues of $47.09 billion [7] - The Medical - HMOs industry, to which Molina belongs, is currently ranked in the bottom 6% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Molina Healthcare Inc. (NYSE:MOH) shares plunged in Thursday's extended trading after the company released its fourth-quarter earnings report.  Here's a look at the key figures from the quarter. MOH stock is moving. Watch the price action here.The Details: Molina Healthcare reported quarterly losses of $2.75 per share, which missed the Street estimate for earnings of 33 cents, according to data from Benzinga Pro.Quarterly revenue came in at $11.38 billion, which beat the consensus estimate of $10.86 billion ...

Molina Healthcare forecast annual profit below Wall Street estimates on Thursday, as it expects increased costs in its Obamacare plans to weigh through the year. ...

Full Year Highlights News Release Investor Contact: Jeffrey Geyer, Jeffrey.Geyer@molinahealthcare.com, 305-317-3012 Media Contact: Caroline Zubieta, Caroline.Zubieta@molinahealthcare.com, 562-951-1588 -MORE- Molina Healthcare Reports Fourth Quarter and Year-End 2025 Financial Results Introduces Full Year 2026 Revenue and Earnings Guidance • Fourth quarter 2025 GAAP loss per diluted share of $3.15 and adjusted loss per diluted share of $2.75 were burdened by approximately $2.00 of unfavorable retroactive rev ...