Overview

• Centene reported a $253 million loss in the second quarter of 2025, its first quarterly loss since late 2022.
• The insurer’s medical cost ratio rose to 93 percent as spending on behavioral health, home care and high-cost drugs outpaced premium growth.
• Management attributed the shortfall to lower-than-expected ACA risk-adjustment revenues and cut full-year 2025 adjusted EPS guidance to $1.75.
• Shares climbed about 5 percent after executives said they are repricing ACA and Medicaid plans to account for recent utilization trends.
• Centene expects margin gains across its Medicaid, Medicare Advantage and ACA businesses in 2026 as it implements targeted pricing and operational changes.