Molina Healthcare Q1 GAAP EPS falls to $0.27; 2026 guidance reaffirmed
Molina Healthcare reported first quarter 2026 GAAP earnings of $0.27 per diluted share, down 95% from $5.45 a year earlier, and adjusted earnings of $2.35 per diluted share, down 61% from $6.08. Premium revenue fell 4% to about $10.2 billion, and GAAP results include a $93 million impairment tied to the planned 2027 exit of the Medicare Advantage-Part D product. The company reaffirmed its full-year 2026 guidance of about $42 billion in premium revenue and at least $5.00 in adjusted earnings per diluted share.
Key points
- Q1 2026 GAAP net income was $14 million, versus $298 million in Q1 2025; total revenue was $10,796 million, versus $11,147 million.
- Consolidated medical care ratio rose to 91.1% from 89.2%, and the Marketplace MCR included about 450 basis points from prior year risk adjustment and program integrity items.
- Full-year 2026 guidance: premium revenue about $42 billion, GAAP EPS at least $1.90, adjusted EPS at least $5.00; the company will update guidance with its second quarter results.
- Management will hold an Investor Day on Friday, May 8, to update its three-year outlook.
The filing
Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 22, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.