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Centene: Q2 earnings snapshot. July 28, 2026, 6:10 AM ST LOUIS (AP) - ST LOUIS (AP) - Centene Corp. (CNC) on Tuesday reported second-quarter net income of $1.09 billion. The St. Louis-based company said it had net income of $2.19 per share. Earnings, adjusted for one-time gains and costs, came to $2.51 per share. The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share. The healthcare company posted revenue of $53.58 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $47.53 billion. Centene expects full-year revenue in the range of $193.5 billion to $197.5 billion. Keep Watching The Mystics' best path to the playoffs This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CNC at https://www.zacks.com/ap/CNC

Centene reports $1 billion profit as health insurer's costs ease. Forbes July 28, 2026 Bruce Japsen Health insurer Centene's net income eclipsed $1 billion in the second quarter as the company is getting a better handle on rising costs of people in its commercial and government-subsidized health plans. Centene, which is one of the nation's largest providers of Obamacare and is also a large provider of Medicaid health benefits for poor Americans, said its earnings swung to a net income of $1.09 billion, or $2.19 a share compared to a loss of $253 million, or 50 cents a share in the second quarter of last year. Like other health insurers, Centene has been battling the rising medical expenses of its health plan members. But Tuesday's earnings report indicated high healthcare costs that have been a drag...

'Back on track': Centene swings to more than $1B in profit in Q2. The managed care giant raised its 2026 earnings outlook for the second time this year following the results, which its CFO called "fantastic." Published July 28, 2026 Centene handily beat Wall Street's expectations in the second quarter, as higher revenue from premiums and rate hikes for the managed care company's plans shielded its bottom line from elevated medical costs. Centene posted $53.6 billion in revenue, up 10% year over year, and $1.1 billion in profit in the quarter. That's compared to a loss of $253 million the same time last year when Centene was caught off guard by higher spending - the insurer's first quarterly loss in more than two years. Centene raised its 2026 financial outlook on Tuesday following the outperformance, which TD Cowen analyst Ryan Langston called "huge." "Any way you slice it, this was a fantastic quarter," CFO Drew Asher said during a morning call with investors. It's the second beat-and-raise this year for the St. Louis-based insurer, following a buoyant first quarter when Centene bumped its 2026 guidance on the back of better controlled medical costs. Some investors griped at the time that Centene should have raised its outlook more. They're now getting their wish. Centene now expects 2026 adjusted earnings per share of greater than $4.80, up from $3.40 previously. The outlook is better than the $2.08 in adjusted EPS that Centene eked out in 2025, but well below the $7.17 and $6.68 that the company enjoyed in 2024 and 2023, respectively, before it was hit with unexpected medical spending. The biggest boost for Centene in the second quarter came from the Affordable Care Act exchanges. It's a turnaround for a business that's been one of the biggest drags to the managed care company's earnings, as Americans on the plans set up by the Obama-era law gobbled up more medical care that became more expensive. Insurers overhauled their ACA businesses this year to account for that higher spending - jacking up premiums at the same time that more generous federal subsidies for ACA plans expired, fueling a cost crisis for enrollees that has led millions to drop the coverage. Centene's ACA membership fell by almost 2.4 million people year over year, to just below 3.5 million enrollees. But the people who remain are significantly more profitable. Centene's commercial medical loss ratio, an important marker of spending on patient care, was 79.2% in the quarter, a notable improvement from 90.6% same time last year. Lower is better for MLR, though insurers try to keep the metric above regulatory bounds. The better MLR is due to Centene raising ACA premiums for 2026, and a "tapering" medical trend which drove the payer's spending lower than anticipated in the quarter, according to Asher. Centene also benefited from a higher payout from a government program meant to reimburse insurers if they cover sicker enrollees than other ACA plans. That risk adjustment settlement contributed about $180 million in net pre-tax favorability in the quarter, and about $481 million in the first half of the year, according to Centene's financial disclosures. Centene now expects its ACA business to yield a 4.5% to 5% margin in 2026, up from previous guidance and "back on track after a temporary industry detour in 2025," Asher said. Still, Centene expects to lose more ACA enrollees as 2026 progresses, as people elect not to pay higher premiums or drop off coverage as a result of the Trump administration's program integrity efforts. That could create some unexpected acuity shifts. Insurers downsizing or exiting their ACA businesses is also creating volatility moving into 2027. Centene is one such payer, announcing plans in June to leave its ACA business in New Hampshire after this year. But the situation could be worse: The CMS has tried to overhaul the exchanges in a way that would cause even more people to lose coverage, but federal courts have stayed or vacated the policies to date, creating some relief for insurers. "While we are still vigilant about pricing for risk shifts due to program integrity measures and changes affecting eligibility prospectively, we would expect the marketplace to be a more stable business for Centene as we look at over the next couple of years, compared to the prior periods of abrupt program changes," Asher said. Medicaid, Medicare and board transition. Centene's postive second quarter results were not just restricted to the ACA, as membership cuts across multiple products yielded a smaller but more profitable book. Centent lost more than 700,000 Medicaid members year over year, leaving the insurer with 12.1 million enrollees in the safety-net insurance program.