Q3 2025 Centene Corp Earnings Call Transcript
Key Points
- Centene Corp (CNC) reported a better-than-expected adjusted EPS of $0.50 for the third quarter, surpassing previous expectations.
- The Medicaid business showed anticipated HBR improvement, aided by a positive retroactive revenue adjustment in Florida.
- Net investment income was stronger than expected, contributing positively to the financial results.
- The company increased its full-year adjusted EPS forecast to at least $2, up from the previous forecast of $1.75 per share.
- Centene Corp (CNC) successfully advocated for improved revenue in its Florida Children's Medical Services program, demonstrating effective rate advocacy.
- The company experienced a GAAP loss per share of $13.50 due to a $6.7 billion non-cash goodwill impairment charge.
- Marketplace experienced additional medical cost pressure in the last month of the quarter, impacting overall results.
- There is uncertainty surrounding the expiration of eAPTCs, which could affect future marketplace dynamics and risk pool shifts.
- Medicare Advantage medical cost trend remains elevated compared to historic levels, posing a challenge for margin recovery.
- The company anticipates slight attrition in Medicaid membership over the next few quarters, which could impact revenue.
Good day, and welcome to the Centene Corporation 2025 third quarter financial results conference call. (Operator Instructions) Please note today's event is being recorded.
I would now like to turn the conference over to Jennifer Gilligan, Senior Vice President, Investor Relations. Please go ahead, ma'am.
Thank you, Rocco, and good morning, everyone. Thank you for joining us on our third quarter 2025 earnings results conference Call. Sarah London, Chief Executive Officer; and Drew Asher, Executive Vice President and Chief Financial Officer of Centene, will host this morning's call, which also can be accessed through our website at centene.com.
Any remarks that Centene may make about future expectations, plans and prospects constitute forward-looking statements for the purpose of the Safe Harbor provision under the Private Securities Litigation Reform Act of 1995. Specifically, our discussion today of our expectations for the drivers of adjusted diluted earnings per
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