Q1 26 EPS
$2.35
BEAT +21.40%
Est. $1.94
Q1 26 Revenue
$10.80B
MISS 0.83%
Est. $10.89B
vs S&P Since Q1 26
+16.0%
BEATING MARKET
MOH +25.1% vs S&P +9.1%
Market Reaction
Did MOH Beat Earnings? Q1 2026 Results
Molina Healthcare delivered a sharply mixed first quarter of 2026, posting adjusted diluted EPS of $2.35 and topping the $1.94 consensus estimate by 21.40%, even as revenue of $10.80 billion came in just 0.83% below expectations and fell 3.1% from a … Read more Molina Healthcare delivered a sharply mixed first quarter of 2026, posting adjusted diluted EPS of $2.35 and topping the $1.94 consensus estimate by 21.40%, even as revenue of $10.80 billion came in just 0.83% below expectations and fell 3.1% from a year ago. The headline profit beat, however, obscures a quarter defined by significant strain: GAAP net income collapsed to $14.00 million from $298.00 million a year earlier, weighed down by a $93.00 million impairment charge tied to the company's decision to exit its Medicare Advantage Prescription Drug product for 2027 and redirect focus toward dual-eligible members, a shift that investors tracking the Medicare rate environment have been watching closely. Total membership declined to approximately 5.0 million from 5.75 million a year ago, and the consolidated medical care ratio deteriorated to 91.1% from 89.2%, reflecting broad cost pressure across Medicaid and Medicare segments. Molina reaffirmed full-year 2026 guidance for premium revenue of roughly $42.00 billion and adjusted EPS of at least $5.00, with a formal guidance update expected following second-quarter results.
Key Takeaways
- • Medical cost trend modestly favorable to expectations
- • Favorable prior year claims reserve development of $253 million
- • Operating cash flow surge to $1,082 million driven by timing of government receivables and payables
- • Disciplined medical cost management approach
- • Marketplace MCR of ~79.5% excluding prior year risk adjustment and CMS program integrity impacts
MOH YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
MOH Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased with our first quarter results and continued disciplined approach to medical cost management. Medical cost trend was modestly favorable to our expectations, and our reaffirmed full year 2026 premium revenue and adjusted earnings guidance reflect a prudent view of full year results at this early point in the year. We look forward to updating you on our three-year outlook at our Investor Day event on Friday, May 8th.”
— Joseph Zubretsky, Q1 2026 Earnings Press Release
MOH Earnings Trends
MOH vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MOH EPS Trend
Earnings per share: estimate vs actual
MOH Revenue Trend
Quarterly revenue: estimate vs actual
MOH Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.40 | $1.51 | +7.76% | $10.87B | +0.86% |
| Q1 26 BEAT | $1.94 | $2.35 | +21.40% | $10.80B | -0.83% |
| Q4 25 MISS FY | $0.33 | $-2.75 | -921.63% | $11.38B | +4.31% |
| FY Full Year | $13.93 | $11.03 | -20.80% | $45.43B | +1.02% |
| Q3 25 MISS | $3.89 | $1.84 | -52.73% | $11.48B | +4.49% |
| Q2 25 MISS | $5.53 | $5.48 | -0.93% | $11.43B | +4.44% |
| Q1 25 BEAT | $5.96 | $6.08 | +2.05% | $11.15B | +3.08% |