Core Insights - Molina Healthcare Inc. shares experienced a significant decline of 19.34% to $157.39 in after-hours trading following the release of its third-quarter earnings [1] Financial Performance - The company reported third-quarter GAAP earnings of $1.51 per diluted share, a decrease from $5.65 in the same quarter last year [2] - Adjusted earnings were $1.84 per share, down from $6.01 year-over-year [2] - Premium revenue increased by 12% year-over-year, reaching $10.8 billion [2] Medical Care Ratios - The consolidated medical care ratio (MCR) for Q3 rose to 92.6%, up from 89.2% a year earlier [3] - Medicaid MCR was reported at 92.0%, Medicare at 93.6%, and Marketplace at 95.6% [3] Earnings Contribution - Medicaid contributed $3.52 per diluted share to adjusted earnings, while losses from Medicare and Marketplace amounted to $1.68 per share [4] Full-Year Guidance - The company revised its premium revenue forecast to approximately $42.5 billion and expects full-year 2025 adjusted earnings of around $14 per diluted share [5] - The outlook change is attributed to rising medical costs across all segments, with the Marketplace business facing "unprecedented" cost trends [5] Preliminary Outlook for 2026 - The preliminary outlook for adjusted earnings per share in 2026 is expected to be similar to the full-year 2025 guidance, with reduced exposure to the Marketplace [6] Stock Performance - Molina Healthcare's stock has declined 32.96% year-to-date in 2025, trading within a range of $151.95 to $359.97 [7] - The company has a market capitalization of $10.58 billion, an average daily volume of 1.04 million shares, and a price-to-earnings ratio of 9.62 [7]