Here are the 10-Q quarterly reports from Centene Corporation (CNC) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CNC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CNC filings page.
Centene Corporation reported third-quarter 2026 total revenues of $50.647 billion, compared with $49.690 billion a year earlier. Net loss attributable to Centene was $71 million, or $0.14 per diluted share; adjusted net earnings were $290 million and adjusted diluted EPS was $0.58, versus $245 million and $0.50. The health benefits ratio was 92.7%, unchanged year over year; the SG&A expense ratio was 7.2%, versus 7.0%, while the adjusted SG&A expense ratio was 6.5%, versus 7.0%.
For the first nine months, total revenues were $154.170 billion versus $145.052 billion, and net earnings attributable to Centene were $2.561 billion versus a $5.573 billion loss. Net cash provided by operating activities was $4.287 billion, compared with $4.651 billion. Third-quarter operating cash flow used $3.7 billion, driven by the timing of pass-through payments.
Managed-care membership was 25.7 million, down 2.3 million, or 8%, year over year. Centene repurchased $1.847 billion par value of 2027 and 2028 senior notes for $1.837 billion during the first nine months. Effective January 1, 2027, California will transition the Medi-Cal UIS population from managed care to fee-for-service; approximately 175,000 members served through Health Net's at-risk Medi-Cal contracts are expected to be affected, with California Medicaid membership and associated premium revenue expected to decline.
Centene Corporation (CNC) reported Q3 2025 results with total revenues of $49.690 billion and a GAAP net loss attributable to Centene of $(6.631) billion, driven by a $6.723 billion goodwill impairment recorded in the quarter.
Premium revenue rose to $44.126 billion as medical costs increased to $40.902 billion. Adjusted diluted EPS was $0.50 versus $1.62 a year ago, reflecting the impairment and higher costs. Year‑to‑date, operating cash flow improved to $4.651 billion, aided by working capital movements, while cash and cash equivalents were $17.058 billion and long‑term investments were $18.180 billion at quarter end. Total debt was $17.583 billion, including senior notes and a $2.0 billion term loan; the company also has a $4.0 billion revolving credit facility under its new credit agreement.
Goodwill decreased to $10.835 billion after the impairment. As of October 27, 2025, Centene had 491,518 thousand shares of common stock outstanding.