On July 23, Molina Healthcare fell 9.8% in pre-market trading, trading at $200.18 per share, with turnover of $47,300. The decline was triggered by the company's Q2 earnings report revealing a sharp deterioration in profitability compounded by multiple business-level drags on full-year guidance.

Specifically, Molina reported Q2 adjusted EPS of $1.51, which beat the consensus estimate of $1.39 but plunged 72.45% from $5.48 in the year-ago quarter. Revenue fell to $10.87 billion from $11.43 billion a year earlier, representing a 4.9% decline. While the company raised its full-year adjusted EPS outlook to at least $5.25 from the prior $5.00, the updated guidance incorporated significant headwinds: legacy MAPD products are expected to generate a $1.00 per share loss drag due to underperformance, and the new Florida Medicaid contract launching in Q4 is projected to create an additional $1.50 per share loss from elevated implementation costs.

Molina Healthcare is a Fortune 500 managed healthcare company providing services primarily under Medicaid, Medicare, and state marketplace programs across 21 states.

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