Centene 3Q 2026: Revenue $50.6B, Net income $(71)M, EPS $(0.14) — 10-Q Summary

What happened

Centene reported third-quarter 2026 revenue of $50.6B, up 2% from $49.7B a year earlier. Net income attributable to the company was $(71)M and diluted EPS was $(0.14), compared with a $6.63B net loss and $(13.50) per share a year earlier.

Confirmed

Global impact / market context

The prior-year loss was driven by a $6.7B goodwill impairment, which means a write-down of the value of acquired assets. This quarter's smaller loss shows that charge did not repeat, but Centene still lost money as membership fell 8% to 25.7M.

Analyst inference

Revenue grew on Medicaid and Medicare, offset by lower Commercial revenue. Marketplace membership declined amid subsidy and regulatory changes, while pricing actions covered 95% of 2026 members and improved pricing and risk transfers supported lower medical costs.

Analyst inference

What to watch

1. California's transition of about 175,000 UIS members to fee-for-service is expected to reduce membership from 2027, which means payment per service rather than per member. Confirmed
2. New Nevada rural Medicaid coverage began in January 2026, and Illinois Medicaid awards are expected to begin in January, which means new contracts starting then. Confirmed
3. Watch whether Medicaid and Medicare growth can offset falling Marketplace and Medicaid membership, and whether lower medical costs hold after pricing actions covered 95% of 2026 members. Analyst inference

Evidence

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