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Dec 31, 2025
Molina Q4 2025 Earnings Report
Molina Healthcare reported a GAAP loss per diluted share of $3.15 and adjusted loss per diluted share of $2.75 for the fourth quarter of 2025.
Key Takeaways
Molina Healthcare, Inc. reported a GAAP loss per diluted share of $3.15 and an adjusted loss per diluted share of $2.75 for the fourth quarter of 2025. The company's full year 2025 GAAP earnings per diluted share was $8.92 and adjusted earnings per diluted share was $11.03. The fourth quarter results were significantly impacted by unfavorable retroactive revenue items.
Fourth quarter 2025 GAAP loss per diluted share was $3.15, burdened by approximately $2.00 of unfavorable retroactive revenue items.
Adjusted net income for the full year 2025 was $11.03 per diluted share.
The company issued full year 2026 earnings guidance with expected premium revenue of approximately $42 billion and adjusted earnings of at least $5.00 per diluted share.
New store embedded earnings are now over $11.00 per diluted share.
Revenue by Segment
Forward Guidance
Molina Healthcare expects full year 2026 premium revenue of approximately $42.2 billion and adjusted earnings of at least $5.00 per diluted share. The guidance is impacted by the implementation of a new Florida CMS Medicaid contract and underperformance in the traditional Medicare Advantage Part D product.
Positive Outlook
- Growth from the new Florida CMS contract in Medicaid is expected.
- Higher premium in Medicare is anticipated.
- The company remains confident in its durable and sustaining operating platform.
- Positive pretax margins in Medicaid are expected even at a low point in the cycle.
- Optimism about future earnings trajectory, including anticipated rate restoration and future embedded earnings.
Challenges Ahead
- Premium revenue guidance for 2026 is approximately $42 billion, a decline of approximately 2% from full year 2025.
- Adjusted earnings guidance is burdened by $2.50 per diluted share.
- A $1.50 per diluted share burden is due to the implementation of the new Florida CMS Medicaid contract.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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