Molina Healthcare, Inc. (NYSE: MOH) reported third‑quarter 2025 results on October 24, 2025, with GAAP earnings per diluted share of $1.51 and adjusted earnings per diluted share of $1.84. Total revenue for the quarter was $11.48 billion, up 12% year‑over‑year, driven by premium revenue of $10.84 billion. The medical care ratio rose to 92.6% and the general‑and‑administrative expense ratio fell to 6.4%, while the after‑tax margin was 0.7%.
The company revised its full‑year 2025 outlook, projecting premium revenue of $42.5 billion and total revenue of $44.5 billion. GAAP net income guidance was set at $630 million, translating to an EPS of $11.90, and adjusted net income guidance was $742 million, or $14.00 per share. Guidance also includes a consolidated medical care ratio of 91.3% (Medicaid 91.5%, Medicare 91.3%, Marketplace 89.7%) and a general‑and‑administrative ratio of 6.5%.
Segment performance highlighted that Medicaid contributed a gain of $3.52 per share, whereas Medicare and Marketplace segments recorded losses of $1.68 per share each. The company cited a challenging medical cost trend, particularly in the Marketplace, as the primary driver of the lower earnings and the need to adjust guidance. Despite the weaker quarter, the guidance reflects confidence in the company’s ability to manage costs and maintain profitability across its Medicaid, Medicare, and Marketplace businesses.
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