Molina Drops After 2026 Profit Forecast Misses Expectations (2)

Molina Healthcare Inc.plunged 33% after the health insurer forecast 2026 profit that was less than half of Wall Street’s expectations and said it would stop offering Medicare Advantage prescription drug plans for 2027 as medical costs increased across all of its major programs.

The share decline would be the biggest drop since July 2005, shaving $3 billion from the company’s market capitalization, if the move holds, according to data compiled by Bloomberg.

Molina expects adjusted earnings of at least $5 per share in 2026, the company said in a statement, well below the average estimate of $13.71 per share ...