Molina Healthcare Q1 EPS Beats, Revenue Misses

Molina Healthcare reported Q1 adjusted EPS $2.35, topping the $2.17 estimate, while revenue fell to $10.8 bn versus $10.87 bn consensus.
Premium revenue dropped 4% YoY to $10.2 bn, driven by lower Medicaid membership, Virginia contract loss, and reduced Marketplace enrollment.
The company reaffirmed FY2026 guidance of ~$42 bn premium revenue and at least $5.00 adjusted EPS, both below analyst consensus.
GAAP net income fell 95% YoY to $0.27 per share due to a $93 m impairment, while operating cash flow surged to $1.08 bn.