Centene Beats Q3, Raises 2026 Outlook

Centene Beats Q3, Raises 2026 Outlook

Centene Corp reported third‑quarter 2023 results that topped analyst expectations. Adjusted earnings per share came in at $0.58, well above the consensus estimate of $0.10, while revenue reached $50.65 billion, a 1.9 % increase year‑over‑year and ahead of the $47.11 billion forecast. On a GAAP basis the insurer posted a loss of $0.14 per share, a sharp improvement from the $13.50 loss recorded a year earlier.

Chief Executive Officer Sarah London said the company’s “solid underlying fundamentals” have accelerated earnings recovery and increased margins. Accordingly, Centene lifted its 2026 adjusted diluted earnings per share outlook to more than $5.20, an increase of $0.40 from the prior guidance and above the $4.88 consensus. Revenue guidance for 2026 was also raised to a range of $196.5 billion to $200.5 billion, up from $193.5 billion to $197.5 billion, with the midpoint of $198.5 billion exceeding the $195.92 billion consensus.

Segment‑level performance showed Medicare revenue rising 20 % to $11.26 billion and Medicaid revenue climbing 3.7 % to $24.04 billion. In contrast, commercial revenue fell 21 % to $8.70 billion and other revenue declined 18 % to $1.10 billion.

Despite the earnings beat and upgraded outlook, Centene’s shares slipped about 2 % in pre‑market trading.