Molina Healthcare (MOH) Q2 2025 Earnings
How Did MOH Stock React to Q2 2025 Earnings?
S&P 500 over the same 30 days: +1.27%.
Did MOH Beat Earnings? Q2 2025 Results
No. Molina Healthcare reported Q2 2025 earnings of $5.48 a share on Jul 23, 2025, missing the $5.53 consensus estimate by 0.9%. Revenue was $11.4B against a $10.9B estimate.
Molina Healthcare delivered a mixed second quarter for 2025, posting strong revenue growth that masked a meaningful earnings shortfall and prompted the company to lower its full-year profit outlook for the second time this year. Revenue climbed 15.7% year over year to $11.43 billion, clearing the $10.94 billion consensus by 4.44%, as new contract wins, acquisitions, and rate increases pushed premium revenue to $10.87 billion. But profitability told a harder story: adjusted EPS of $5.48 came in just below the $5.53 consensus estimate, weighed down by a deteriorating consolidated medical care ratio that widened to 90.4% from 88.6% a year ago, as utilization pressure spread across all three segments. The Marketplace segment was the most acute pressure point, with its MCR jumping to 85.4% from 71.6%, partly due to the ConnectiCare acquisition and prior-year member reconciliations. Analysts have noted the pattern of repeated guidance reductions, and Molina's revised full-year adjusted EPS floor of $19.00, down sharply from an initial $24.50, reinforced those concerns even as premium revenue guidance held firm at approximately $42 billion.
- Premium revenue growth of 15% year over year driven by new contract wins, acquisitions, footprint growth, and rate increases
- Membership increased by 167,000 to approximately 5.7 million year over year
- Marketplace membership nearly doubled to 690,000 from 386,000 year over year
- G&A ratio improved to 6.2% (6.1% adjusted) reflecting one-time items and operating discipline
- Consolidated MCR deteriorated to 90.4% from 88.6% due to elevated medical cost utilization
“Our second quarter results and revised full year outlook reflect a challenging medical cost trend environment.”
Molina Healthcare CEO, on the earnings call
What Was Molina Healthcare's Outlook in Q2 2025?
Molina revised its full year 2025 guidance downward. Premium revenue guidance is unchanged at approximately $42 billion (~9% growth from 2024). Adjusted EPS guidance was lowered to no less than $19.00 per diluted share, and GAAP EPS to no less than $16.90 per diluted share. The reduction is disproportionately attributed to Marketplace, reflecting updated medical cost trend assumptions for H2 2025. Full year guidance MCR is 90.2% consolidated (Medicaid 90.9%, Medicare 90.0%, Marketplace 85.1%). New store embedded earnings remain at $8.65 per diluted share, reflecting incremental contributions expected between 2026 and 2028 from newly awarded Medicaid and Medicare Duals contracts and recent acquisitions.
MOH YoY Financials
| Metric | Q2 2025 | Q2 2024 | Year over year |
|---|---|---|---|
| Revenue | $11.4B | $9.9B | +15.7% |
| Operating Income | $373.0M | $434.0M | −14.1% |
| Net Income | $255.0M | $301.0M | −15.3% |
MOH Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.