Centene Raises 2026 Earnings and Revenue Outlook After Third-Quarter Results

Centene Corporation lifted its 2026 earnings and revenue outlook Tuesday while posting $50.647 billion in third-quarter revenue alongside a GAAP loss for the three months ended Sept. 30.

The company raised its adjusted diluted earnings per share floor to more than $5.20, from more than $4.80. Its GAAP diluted earnings floor increased to more than $3.46 from more than $3.11. Centene also raised its 2026 revenue range to $196.5 billion to $200.5 billion, up from $193.5 billion to $197.5 billion.

Revenue for the quarter was $50.647 billion, compared with $49.690 billion in the year-earlier period. Adjusted net earnings totaled $290 million, or 58 cents per diluted share, versus $245 million and 50 cents per share a year earlier. The company recorded a $71 million GAAP net loss attributable to Centene, equal to a 14-cent diluted loss per share.

Medicare segment premium and service revenue reached $11.263 billion, a 20% increase from a year earlier. Medicaid premium and service revenue increased 4% to $24.039 billion, while Commercial premium and service revenue fell 21% to $8.7 billion.

Centene's health benefits ratio was 92.7%, unchanged from the third quarter of 2025. Adjusted diluted earnings per share is a non-GAAP measure. The reconciliation for the adjusted results included $276 million in severance costs tied to enterprise optimization and contract exits and $35 million in enterprise optimization vendor costs, among other adjustments.

“Solid underlying fundamentals within our core businesses have powered a faster recovery to our earnings trajectory than previously anticipated,” Chief Executive Sarah M. London said.

An earlier earnings-week preview listed Centene among companies scheduled to report.