Here are the 10-Q quarterly reports from Molina Healthcare, Inc. (MOH) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MOH and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MOH filings page.
Molina Healthcare, Inc. (MOH) reported third-quarter 2026 total revenue of $11.082 billion, down from $11.477 billion a year earlier, and net income of $38 million versus $79 million. Diluted earnings per share were $0.73, compared with $1.51. Premium revenue was $10.457 billion, down 4%; the medical care ratio was 92.9%, compared with 92.6%. Membership was 4.9 million as of September 30, 2026, 766,000 (14%) below September 30, 2025, mainly reflecting Medicaid market contraction and lower Marketplace membership associated with Molina’s product and pricing strategy.
For the nine months ended September 30, 2026, total revenue was $32.752 billion and net income was $112 million, versus $34.051 billion and $632 million a year earlier; diluted earnings per share were $2.19 versus $11.79. Operating cash flow was $629 million, compared with $237 million used in the prior-year period. A $93 million impairment recorded in the first quarter reflects the planned 2027 exit from MAPD as Molina focuses Medicare on dual-eligible members. The company expects year-end Medicaid membership of 4.4 million, excluding 120,000 Florida Kids enrollees; that contract began October 1, 2026 and is expected to run through December 2030.
Molina Healthcare reported softer profitability on higher revenue in Q3 2025. Total revenue reached $11.48 billion, up from $10.34 billion a year ago, led by premium revenue of $10.84 billion (up 12%). Net income fell to $79 million, or $1.51 per diluted share, from $326 million, or $5.65, as medical costs rose faster than premiums.
Margins compressed as medical costs accelerated. The consolidated medical care ratio was 92.6% versus 89.2% last year, reflecting a challenging cost trend, especially in Marketplace. The G&A ratio was 6.4% versus 6.5%, showing expense discipline. Interest expense rose to $49 million from $29 million alongside higher borrowings.
Balance sheet and capital actions were active. Long‑term debt increased to $3.66 billion from $2.92 billion, including new term loans. Operating cash flow for the first nine months was a use of $237 million. The company completed $1.0 billion of share repurchases year‑to‑date, including approximately 2.85 million shares for $500 million in Q3. Membership was 5.6 million at September 30, 2025. Molina closed the ConnectiCare acquisition for $350 million, adding goodwill and identifiable intangibles.