On July 23, Molina Healthcare fell 5.54% in regular trading, trading at $204.745/share, with turnover of $40.36 million. The decline follows the company's Q2 earnings release and management disclosure of significant business contraction plans.

Molina reported Q2 adjusted EPS of $1.51, beating the consensus estimate of $1.39 but plunging 72.45% from $5.48 a year earlier. Revenue came in at $10.87 billion, down 4.9% year-over-year. The full-year guidance incorporates a $1.00/share drag from underperforming legacy MAPD products and a $1.50/share loss tied to the Q4 implementation of a new Florida Medicaid contract. While management raised full-year adjusted EPS guidance to at least $5.25, executives revealed the company expects its Medicaid footprint to shrink from approximately 13-14 states to roughly 6 states next year, with further business reductions planned for 2027 to lower marketplace risk exposure.

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