Centene Corporation: Beat — EPS $0.58, Revenue $50.65B
Earnings BeatQ3 2026 · Pre-market
Did Centene Corporation (CNC) beat earnings today?
Yes, Centene Corporation (CNC) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+480.00% surprise
$0.58Actual
Expected: $0.10
vs. year ago +16.0%
Total Revenue+7.87% surprise
$50.65BActual
Expected: $46.95B
vs. year ago +1.9%
Released Oct 27 · 6:00 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $50.65B | $49.69B | +1.9% |
| Revenue detail — reported lines | |||
| └─Premium and service revenues | $45.10B | $44.90B | +0.5% |
| └─Premium tax | $5.54B | $4.79B | +15.7% |
| └─Premium | $44.37B | $44.13B | +0.6% |
| └─Service | $735.00M | $772.00M | -4.8% |
| └─Medicaid | $24.04B | $23.17B | +4.0% |
| └─Commercial | $8.70B | $10.99B | -21.0% |
| └─Medicare | $11.26B | $9.39B | +20.0% |
| └─Other | $1.10B | $1.34B | -18.0% |
| GAAP Basic EPS | $(0.14) | $(13.50) | - |
| GAAP Diluted EPS | $(0.14) | $(13.50) | - |
| Adj. Diluted EPS | $0.58 | $0.50 | +16.0% |
| Net Loss | $(71M) | $(6,631M) | - |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY 2026 Outlook |
|---|---|---|
| GAAP diluted EPS | — | > $3.46 |
| Adjusted diluted EPS | — | > $5.20 |
| Total revenues | — | $196.5B-$200.5B |
| Premium and service revenues | — | $173.0B-$177.0B |
| HBR | — | 90.4%-91.1% |
| SG&A expense ratio | — | 7.2%-7.8% |
| Adjusted SG&A expense ratio | — | 6.9%-7.5% |
| Interest expense | — | $600M-$620M |
| Diluted shares outstanding | — | 497.0M-500.0M |
Business Highlights
- ➤Medicare HBR performance benefited from Medicare Advantage and PDP fundamentals.
- ➤Completed $558M of senior-note repurchases due in 2027 and 2028 during Q3.
- ➤Fully redeemed remaining 2027 Senior Notes in October.
- ➤Increased debt-repurchase program by $2.0B in October.
- ➤Retained $1.9B available under the senior-note repurchase program as of October 27.
- ➤CMS D-SNP integration moved former MMP members into the Medicare line in 2026.
- ➤Centene provides integrated services to government-sponsored and commercial healthcare programs.
- ➤Company serves more than 1 in 15 individuals nationwide through its healthcare offerings.
Management Commentary
Sarah M. London, Chief Executive Officer
“Solid underlying fundamentals within our core businesses have powered a faster recovery to our earnings trajectory than previously anticipated. We are pleased with the progress our teams have made in delivering increased margin to power our mission of transforming the health of the communities we serve, one person at a time. We remain focused on a strong finish to 2026 and building on this progress in 2027.”