Centene Corporation (CNC) Research

Forward Estimates

EPS Estimates

Current Qtr

$1.05

$0.41$1.94

vs $-0.16+758.9%

17 analysts

Next Qtr

$0.05

$-0.01$0.18

vs $0.50-89.0%

17 analysts

Current Yr

$3.52

$3.38$4.07

vs $2.08+69.1%

19 analysts

Next Yr

$4.46

$3.93$5.83

vs $3.52+26.7%

20 analysts

Revenue Estimates

Current Qtr

$47.45B

$45.56B$48.41B

vs $48.74B-2.6%

11 analysts

Next Qtr

$47.18B

$46.46B$48.45B

vs $49.69B-5.0%

11 analysts

Current Yr

$190.38B

$188.50B$193.53B

vs $194.78B-2.3%

14 analysts

Next Yr

$190.86B

$183.78B$197.69B

vs $190.38B+0.3%

14 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for CNC on EDGAR.

CNC filing events and research context
Filed	Item	Context
Apr 28, 2026	mda_quarterly	Centene Corporation’s first-quarter 2026 financial results reflect a 7% year-over-year revenue increase to $49.9 billion, driven by premium yield growth in Medicare Part D and Medicaid rate adjustments. The company reported a health benefits ratio (HBR) of 87.3%, an improvement from 87.5% in the prior-year period, aided by disciplined medical cost management and the absence of 2026 Medicare Advantage premium deficiency reserves. Membership trends remain a primary focus, with total managed care membership declining 6% to 26.3 million. This contraction is largely attributed to ongoing Medicaid eligibility redeterminations and a significant reduction in Marketplace membership following the expiration of enhanced Advance Premium Tax Credits and the implementation of the Marketplace Integrity and Affordability Final Rule. Centene responded with corrective pricing actions on 95% of its Marketplace business for 2026. Liquidity remains robust, with $4.4 billion in operating cash flow. The company actively managed its capital structure by repurchasing $1.0 billion of senior notes and utilizing a new receivable purchase agreement to monetize $1.0 billion of 2025 Part D risk-sharing receivables. Key risks include ongoing regulatory uncertainty, potential Medicaid bid protests in Georgia and Texas, and the evolving morbidity profile of the Marketplace population.
Feb 17, 2026	business	Centene is the largest managed care organization focused on underserved populations, reporting 2025 revenues of $194.8 billion and 27.6 million members. The company operates through four segments: Medicaid (57% of revenue), Commercial (21%), Medicare (19%), and Other (3%). Centene is the nation's largest Medicaid and Marketplace insurer and the largest stand-alone Medicare Prescription Drug Plan (PDP) provider, utilizing brands such as Ambetter Health and Wellcare. The company faces significant regulatory headwinds. The One Big Beautiful Bill Act (OBBBA) and the expiration of enhanced Advance Premium Tax Credits (APTCs) are expected to reduce Marketplace membership and Medicaid eligibility while increasing population morbidity. In Medicare, the Inflation Reduction Act (IRA) has shifted cost-sharing responsibilities for PDPs. Strategically, Centene is divesting Magellan Health and expanding its Individual Coverage Health Reimbursement Arrangement (ICHRA) footprint to disrupt employer-sponsored insurance. The company is also positioning itself for the 2030 CMS mandate for integrated dual-eligible care by leveraging its overlapping Medicaid and Medicare footprints. Centene emphasizes a local delivery model and value-based provider contracting to manage costs and improve outcomes for complex, low-income populations.
Feb 17, 2026	mda	Centene Corporation generated $194.8 billion in 2025 revenue, primarily driven by its Medicaid (57%), Commercial (21%), and Medicare (19%) segments. Despite a GAAP net loss of $6.674 billion—largely attributable to a $6.7 billion non-cash goodwill impairment—adjusted net earnings were $1.028 billion. The company is currently divesting its remaining Magellan Health businesses. Financial performance is pressured by rising medical cost trends (HBR) in Medicaid and the Health Insurance Marketplace, leading to corrective pricing actions for 2026. Key regulatory headwinds include the One Big Beautiful Bill Act (OBBBA), which introduces Medicaid work requirements and restricts Advance Premium Tax Credits (APTCs), and the Inflation Reduction Act (IRA), which restructured Medicare Part D cost-sharing and out-of-pocket caps. Strategic growth is focused on D-SNP alignment and the expansion of Individual Coverage Health Reimbursement Arrangements (ICHRAs) via Ambetter Health. Critical risks include retroactive risk-adjustment volatility, CMS Star rating fluctuations impacting revenue, and the loss of government contracts, highlighted by current reprocurement protests in Texas and Georgia. Additionally, the company faces ongoing challenges regarding encounter data accuracy and the impact of the 2025 Marketplace Final Rule on membership morbidity.

Filed

Item

Context

Apr 28, 2026

mda_quarterly

Centene Corporation’s first-quarter 2026 financial results reflect a 7% year-over-year revenue increase to $49.9 billion, driven by premium yield growth in Medicare Part D and Medicaid rate adjustments. The company reported a health benefits ratio (HBR) of 87.3%, an improvement from 87.5% in the prior-year period, aided by disciplined medical cost management and the absence of 2026 Medicare Advantage premium deficiency reserves. Membership trends remain a primary focus, with total managed care membership declining 6% to 26.3 million. This contraction is largely attributed to ongoing Medicaid eligibility redeterminations and a significant reduction in Marketplace membership following the expiration of enhanced Advance Premium Tax Credits and the implementation of the Marketplace Integrity and Affordability Final Rule. Centene responded with corrective pricing actions on 95% of its Marketplace business for 2026. Liquidity remains robust, with $4.4 billion in operating cash flow. The company actively managed its capital structure by repurchasing $1.0 billion of senior notes and utilizing a new receivable purchase agreement to monetize $1.0 billion of 2025 Part D risk-sharing receivables. Key risks include ongoing regulatory uncertainty, potential Medicaid bid protests in Georgia and Texas, and the evolving morbidity profile of the Marketplace population.

Feb 17, 2026

business

Centene is the largest managed care organization focused on underserved populations, reporting 2025 revenues of $194.8 billion and 27.6 million members. The company operates through four segments: Medicaid (57% of revenue), Commercial (21%), Medicare (19%), and Other (3%). Centene is the nation's largest Medicaid and Marketplace insurer and the largest stand-alone Medicare Prescription Drug Plan (PDP) provider, utilizing brands such as Ambetter Health and Wellcare. The company faces significant regulatory headwinds. The One Big Beautiful Bill Act (OBBBA) and the expiration of enhanced Advance Premium Tax Credits (APTCs) are expected to reduce Marketplace membership and Medicaid eligibility while increasing population morbidity. In Medicare, the Inflation Reduction Act (IRA) has shifted cost-sharing responsibilities for PDPs. Strategically, Centene is divesting Magellan Health and expanding its Individual Coverage Health Reimbursement Arrangement (ICHRA) footprint to disrupt employer-sponsored insurance. The company is also positioning itself for the 2030 CMS mandate for integrated dual-eligible care by leveraging its overlapping Medicaid and Medicare footprints. Centene emphasizes a local delivery model and value-based provider contracting to manage costs and improve outcomes for complex, low-income populations.

Feb 17, 2026

mda

Centene Corporation generated $194.8 billion in 2025 revenue, primarily driven by its Medicaid (57%), Commercial (21%), and Medicare (19%) segments. Despite a GAAP net loss of $6.674 billion—largely attributable to a $6.7 billion non-cash goodwill impairment—adjusted net earnings were $1.028 billion. The company is currently divesting its remaining Magellan Health businesses. Financial performance is pressured by rising medical cost trends (HBR) in Medicaid and the Health Insurance Marketplace, leading to corrective pricing actions for 2026. Key regulatory headwinds include the One Big Beautiful Bill Act (OBBBA), which introduces Medicaid work requirements and restricts Advance Premium Tax Credits (APTCs), and the Inflation Reduction Act (IRA), which restructured Medicare Part D cost-sharing and out-of-pocket caps. Strategic growth is focused on D-SNP alignment and the expansion of Individual Coverage Health Reimbursement Arrangements (ICHRAs) via Ambetter Health. Critical risks include retroactive risk-adjustment volatility, CMS Star rating fluctuations impacting revenue, and the loss of government contracts, highlighted by current reprocurement protests in Texas and Georgia. Additionally, the company faces ongoing challenges regarding encounter data accuracy and the impact of the 2025 Marketplace Final Rule on membership morbidity.

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CNC filing events and research context

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