agilon health 3Q 2026: Revenue $1.52B, Net income $34.91M, EPS $1.97— 10-Q Summary

What happened

agilon health reported third-quarter 2026 revenue of $1.52B, up 5.9% from a year earlier, net income of $34.91M versus a prior-year loss, and diluted earnings per share of $1.97. Medicare Advantage membership fell 10% to 453,600, while the medical expense ratio improved to 88.5%.

Confirmed

Global impact / market context

The results combine higher revenue and a return to profit with fewer Medicare Advantage members. Higher capitation rates and improved payor contract terms supported revenue, while the lower medical expense ratio indicates medical costs consumed a smaller share of revenue, potentially improving profit per sale.

Analyst inference

Management says it is prioritizing measured growth and profitability-focused contracts. That approach may trade membership expansion for stronger economics: exits from some markets and payors reduce membership, while better contract terms and cost management could support earnings if they persist.

Analyst inference

What to watch

1. Watch whether revenue growth continues despite lower Medicare Advantage membership, and whether higher capitation rates and improved payor contract terms remain sufficient to offset lost members. Analyst inference
2. Track the medical expense ratio, which measures medical costs as a share of revenue, to see whether it stays below the prior-year 104.0% level. Analyst inference
3. Management emphasized profitability-focused contracting and ongoing clinical and cost-management initiatives; assess future reported results for evidence these actions sustain income while membership changes. Confirmed

Evidence

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