Molina (MOH) Q3 2025 Earnings Call Transcript

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Thursday, Oct. 23, 2025 astatine 8 a.m. ET

• Chief Executive Officer — Joseph Zubretsky

• Chief Financial Officer — Mark Keim

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Joe Zubretsky; and our CFO, Mark Keim. A property merchandise announcing our 3rd 4th 2025 net was distributed aft the marketplace adjacent yesterday and is disposable connected our Investor Relations website. Shortly aft the decision of this call, a replay volition beryllium disposable for 30 days. The numbers to entree the replay are successful the net release. For those of you who perceive to the rebroadcast of this presentation, we punctual you that each of the remarks are made arsenic of today, Thursday, October 23, 2025, and person not been updated consequent to the archetypal net call. On this call, we volition notation to definite non-GAAP measures.

A reconciliation of these measures with the astir straight comparable GAAP measures tin beryllium recovered successful the 3rd 4th 2025 net release. During the call, we volition beryllium making definite forward-looking statements, including, but not constricted to, statements regarding our 2025 guidance, our preliminary 2026 outlook, the aesculapian outgo inclination and our projected MCRs, Medicaid complaint adjustments and updates, our 2026 marketplace pricing and complaint filings, our RFP awards, including our declaration wins successful Georgia and Texas arsenic good arsenic our M&A pipeline and activity, gross maturation related to RFP wins and M&A activity.

The precocious enacted Big Beautiful Bill and expected Medicaid, Medicare and Marketplace programme changes, our expected aboriginal maturation successful some our existing footprint and successful the caller products and markets and the estimated magnitude of our embedded net power. Listeners are cautioned that each of our forward-looking statements are taxable to definite risks and uncertainties that could origin our existent results to disagree materially from our existent expectations. We counsel listeners to reappraisal the hazard factors discussed successful our Form 10-K yearly study filed with the SEC arsenic good arsenic our hazard factors listed successful our Form 10-Q and Form 8-K filings with the SEC.

After the completion of our prepared remarks, we volition unfastened the telephone to instrumentality your questions. I volition present crook the telephone implicit to our Chief Executive Officer, Joe Zubretsky. Joe?

Joseph Zubretsky: Thank you, Jeff, and bully morning. Today, we volition supply you with updates connected our reported fiscal results for the 3rd quarter, an update connected our afloat twelvemonth 2025 guidance, our outlook for 2026 and our maturation initiatives. Let maine commencement with our 3rd 4th performance. Last night, we reported adjusted net per stock of $1.84 connected $10.8 cardinal of premium revenue, beneath our expectations. Our 92.6% consolidated MCR reflects the continuation of a precise challenging aesculapian outgo situation successful the 3rd quarter. We produced an adjusted pretax borderline of 1%.