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Centene

All articles tagged with #centene

business1 month ago•35 min saved

Centene lifts 2026 outlook after strong Q2 earnings

Centene reported Q2 2026 revenue of $53.6 billion with GAAP earnings per share of $2.19 and adjusted EPS of $2.51, and raised its full-year guidance to greater than $3.11 in GAAP EPS and greater than $4.80 in adjusted EPS. Total premium and service revenues were $44.38 billion on $53.58 billion total revenues, with a health benefits ratio of 89.6% and SG&A ratios of 7.0% (GAAP) and 6.9% (adjusted). The company also cited cash flow from operations of about $3.6 billion, debt repurchases totaling $260 million, and a favorable profitability trajectory driven by cost management and higher PDP/Marketplace performance, along with updated 2026 full-year revenue guidance of roughly $193.5-$197.5 billion and premium/service revenue guidance of $173.0-$177.0 billion. The Q2 results include a membership mix improvement and ongoing execution in Medicaid, Commercial, and Medicare segments, contributing to the improved outlook.

via Centene|

#business #centene #earnings

business2 months ago•38 min saved

Centene Moves to Cut Costs with Companywide Buyouts

Centene is offering a companywide voluntary buyout program to trim payroll costs as part of broader cost-cutting efforts in its healthcare business.

via Forbes|

#business #buyouts #centene

business2 months ago•1 min saved

Centene rolls out staff buyouts to weather costs and shrinking membership

Centene announced a voluntary separation program offering buyouts to some employees as it confronts higher medical costs, funding cuts and a shrinking member base. The company did not disclose how many workers are impacted or the target layoffs. The move follows a Q1 membership drop of 6% year over year to 26.3 million, with ACA membership down about 2 million in Q1 and an expectation that ACA membership could fall roughly 40% by the end of 2026. Shares dipped about 4% after Bloomberg first reported the plan, and layoffs could follow if the separation targets aren’t met.

via CNBC|

#aca #business #buyouts

business1 year ago•3 min saved

Centene Corporation Faces Multiple Securities Fraud Lawsuits and Investigations

A class action lawsuit was filed against Centene Corporation alleging that the company and its executives made false and misleading statements about its revenue outlook and growth prospects, leading to a significant stock decline after the company withdrew its fiscal guidance and revealed lower-than-expected market growth, resulting in substantial financial losses for investors.

via TipRanks|

#business #centene #class-action

finance1 year ago•3 min saved

Market Movers and Earnings Highlights: Tesla, Intel, Deckers, and More

Stocks experienced modest gains with the S&P 500 on track for its fifth consecutive record close. Key movers included Intel, which reported strong revenue but posted an unexpected loss; Centene, which rebounded after a surprise loss; Tesla, which rose after a decline; and Deckers, which saw significant earnings growth. Other notable movements involved Newmont, Edwards Lifesciences, and Boston Beer, reflecting varied company performances amid ongoing market dynamics.

via Barron's|

#centene #deckers #finance

business1 year ago•1 min saved

Centene Faces First Quarterly Loss in 13 Years Amid Rising Costs

Centene's stock rebounded despite reporting a surprise quarterly loss due to higher medical costs and an increased health benefits ratio, with investors possibly seeing it as a buying opportunity amid broader sector concerns.

via Barron's|

#business #centene #health-benefits-ratio

business1 year ago•1 min saved

Centene Stock Tumbles 40% Amid Sector Concerns and Downgrades

Shares of Centene (CNC) dropped 40% after the company unexpectedly withdrew its 2025 guidance due to slower ACA plan growth and higher Medicaid costs, leading to analyst downgrades and concerns about its near-term outlook. Despite a moderate buy consensus, the stock faces significant headwinds from risk adjustment shortfalls and regulatory uncertainties.

via TipRanks|

#business #centene #guidance-pull

business1 year ago•3 min saved

Major Stock Market Movers: Tesla, Apple, Robinhood, and More

Stocks rose following a U.S.-Vietnam trade deal announcement, with Tesla and Apple gaining on strong deliveries and analyst upgrades, while Centene dropped 40% after withdrawing earnings guidance. Major banks announced increased dividends and buybacks, Verint Systems surged on acquisition rumors, and Greenbrier jumped after strong earnings. Other notable movements included declines in Adobe and mixed performances in quantum computing stocks.

via Barron's|

#adobe #apple #business

business1 year ago•2 min saved

Centene Shares Drop 40% Amid Guidance Withdrawal and Medicaid Challenges

Shares of Centene plummeted over 32% after the company withdrew its 2025 guidance due to poor risk adjustment results and ongoing cost pressures, leading Wall Street to downgrade ratings and cut price targets, highlighting challenges in its ACA exchange and Medicaid segments.

via Yahoo Finance|

#aca-marketplace #business #centene

business1 year ago•3 min saved

Centene's Stock Plummets Amid Medicaid and Healthcare Cost Concerns

Centene's stock plummeted nearly 40% after the company withdrew its 2025 financial guidance due to higher-than-expected healthcare costs and lower-than-anticipated demand for coverage, reflecting broader challenges in the health insurance sector and raising concerns about future profitability.

via MarketWatch|

#business #centene #full-year-guidance

business1 year ago•1 min saved

Centene Stock Drops 27% After Guidance Withdrawal

Centene's stock dropped 20% after the company withdrew its 2025 earnings guidance due to unexpected challenges in its Marketplace business and rising Medicaid costs, including lower-than-expected market growth and higher morbidity rates, leading to revised revenue and earnings projections. Despite these issues, its Medicare businesses are performing well, and the company plans to update its financial outlook in late July 2025.

via Yahoo Finance|

#business #centene #guidance

business1 year ago•4 min saved

Insurers React to UnitedHealthcare CEO's Death with Security Measures

The murder of UnitedHealthcare CEO Brian Thompson has prompted health insurers like Centene to switch to virtual meetings and remove executive photos from websites due to safety concerns. Thompson was shot in New York, and police suspect he was targeted. The incident has led to increased security measures and discussions about executive protection in the industry.

via CNBC|

#brian-thompson #business #centene

business2 years ago•0 min saved

"Oracle, Lucid, Centene, Hasbro, Zillow, and Crocs: The Biggest Stock Moves of the Day"

Oracle, Lucid, Centene, and Hasbro are among the stocks that are experiencing significant movements in the midday trading session.

via CNBC|

#business #centene #hasbro

business2 years ago•1 min saved

Centene Announces Massive Layoffs, 2,000 Jobs at Risk

Health insurance company Centene plans to lay off approximately 2,000 employees, representing just over 3% of its workforce, starting on October 2. The decision comes as Centene aims to improve its cost structure and ensure it has the necessary talent and expertise to support its members and evolving business needs. Impacted employees will receive severance packages and outplacement services.

via KMOV4|

#business #centene #cost-structure

business2 years ago•1 min saved

Centene Announces Workforce Reduction, St. Louis Impact Uncertain

Centene, the largest Medicaid managed-care company in the US, is laying off approximately 2,000 employees, accounting for just over 3% of its workforce. The company cited the need to "rightsize our cost structure" as the reason for the layoffs. Centene's CEO received $13.2 million in compensation in 2022, while affected workers will receive severance packages and outplacement services. The impact on St. Louis, where Centene is based, is currently unknown.

via KTVI Fox 2 St. Louis|

#business #centene #layoffs