Molina Healthcare shares down 33.40% after-hours after reporting Q4 loss and weaker-than-expected 2026 guidance.

Molina Healthcare (MOH) plummeted 33.4% in after-hours trading following a surprise Q4 loss and sharply weaker-than-expected 2026 guidance. The company reported an adjusted loss of $2.75 per share for Q4, missing estimates for a $0.34 profit, driven by surging medical costs across Medicaid, Medicare Advantage, and ACA Marketplace segments. A $2-per-share hit from retroactive premium adjustments in California Medicaid further pressured profitability. Management outlined 2026 guidance below analyst expectations, citing $2.50-per-share headwinds from a new Florida Medicaid contract and ongoing losses in Medicare Advantage Part D plans. The stock hit a six-year low as analysts flagged margin pressures and limited visibility on Medicaid risk pools, with Bank of America reiterating an underperform rating. The sharp decline reflects immediate market concern over deteriorating margins and uncertain recovery prospects.