CNC

EX-99.1

2 a20260728ex991pressrelease.htm

EX-99.1

Document

Exhibit 99.1

N E W S R E L E A S E

Contact:Investor Relations InquiriesMedia Inquiries

Jennifer GilliganSara Garland

Senior Vice President, Finance & Investor RelationsChief Communications Officer

(212) 549-1306(314) 445-0790

FOR IMMEDIATE RELEASE

CENTENE CORPORATION REPORTS SECOND QUARTER 2026 RESULTS

-- Second Quarter GAAP Diluted Earnings Per Share of $2.19; Adjusted Diluted Earnings Per Share of $2.51 --

-- Increases 2026 GAAP Diluted EPS Guidance: Greater than $3.11 & Adjusted Diluted EPS Greater than $4.80 --

•Commercial HBR of 79.2%, demonstrating significant year-over-year improvement in profitability.

•Medicare segment HBR of 89.5%, including fundamental outperformance in both Medicare Advantage and PDP.

•Medicaid HBR of 93.9%, in-line with expectations and reflecting continued execution in management of medical cost trend.

•Guidance increase resulting from underlying strength of the business, including approximately $0.50 of non-recurring items in Medicare and Commercial segments.

ST. LOUIS, July 28, 2026 -- Centene Corporation (NYSE: CNC) (the Company) announced today its financial results for the second quarter ended June 30, 2026. In summary, the 2026 second quarter results were as follows:

Total revenues (in millions)$53,579

Premium and service revenues (in millions)$44,375

Health benefits ratio89.6 %

SG&A expense ratio7.0 %

Adjusted SG&A expense ratio (1) 6.9 %

GAAP diluted earnings per share$2.19

Adjusted diluted earnings per share (1) $2.51

Total cash flow provided by operations (in millions)$3,590

(1)

Represents a non-GAAP financial measure. A full reconciliation of the adjusted diluted earnings per share (EPS) and adjusted selling, general and administrative (SG&A) expenses is shown in the Non-GAAP Financial Presentation section of this release.

"Our second quarter results and improved full-year outlook represent meaningful milestones on our path to restoring profitability and increasing shareholder value," said Chief Executive Officer of Centene, Sarah M. London. "We are excited by the positive momentum we have built and remain focused on our goal of delivering industry-leading health outcomes with an industry-leading cost structure."

1

Membership

The following table sets forth membership by line of business:

June 30,

20262025

Traditional Medicaid (1) 10,745,800 11,227,400

High Acuity Medicaid (2) 1,364,900 1,592,300

Total Medicaid12,110,700 12,819,700

Marketplace3,494,700 5,862,800

Individual and Commercial Group (3) 497,000 449,700

Total Commercial3,991,700 6,312,500

Medicare (4) 980,000 1,026,900

Medicare Prescription Drug Plan (PDP) 8,803,000 7,845,800

Total at-risk membership25,885,400 28,004,900

(1)

Membership includes Temporary Assistance for Needy Families (TANF), Medicaid Expansion, Children's Health Insurance Program (CHIP), Foster Care, and Behavioral Health.

(2)

Membership includes Aged, Blind, or Disabled (ABD), Intellectual and Developmental Disabilities (IDD), Long-Term Services and Supports (LTSS), and Medicare-Medicaid Plans (MMP) Duals. The Company operated MMPs through December 31, 2025. In 2026 these members are included in Medicare as a result of the Centers for Medicare and Medicaid Services (CMS) transition to Dual Eligible Special Needs Plans (D-SNP) based integration.

(3)

Membership includes Commercial Group, Individual Coverage Health Reimbursement Arrangement (ICHRA) and Other Off-Exchange Individual.

(4)

Membership includes Medicare Advantage, Medicare Supplement, and Applicable Integrated Plans (AIPs) as a result of the CMS transition to D-SNP based integration in 2026.

Premium and Service Revenues

The following table sets forth supplemental revenue information ($ in millions):

Three Months Ended June 30,

20262025% Change

Medicaid$22,766 $21,723 5 %

Commercial9,356 10,070 (7)%

Medicare (1) 11,057 9,450 17 %

Other1,196 1,224 (2)%

Total premium and service revenues$44,375 $42,467 4 %

(1)

Medicare includes Medicare Advantage, Medicare PDP and Medicare Supplement.

Statement of Operations: Three Months Ended June 30, 2026

•For the second quarter of 2026, premium and service revenues increased 4% to $44.4 billion from $42.5 billion in the comparable period of 2025. The increase was primarily driven by premium yield and membership growth in the PDP business, rate increases in Marketplace and in the Medicaid business to address medical trend, Marketplace risk adjustment revenue transfer for the 2025 and 2026 benefit years, and state directed payments. The increases were partially offset by lower Marketplace and Medicaid membership.

•Health benefits ratio (HBR) of 89.6% for the second quarter of 2026 represents a decrease from 93.0% in the comparable period in 2025. The consolidated HBR benefited from a lower Marketplace HBR resulting from improved pricing and risk transfer reflecting the acuity of the Marketplace membership. The HBR also decrease

EX-99.1

2 a20260428ex991pressrelease.htm

EX-99.1

Document

Exhibit 99.1

N E W S R E L E A S E

Contact:Investor Relations InquiriesMedia Inquiries

Jennifer GilliganSara Garland

Senior Vice President, Finance & Investor RelationsChief Communications Officer

(212) 549-1306(314) 445-0790

FOR IMMEDIATE RELEASE

CENTENE CORPORATION REPORTS FIRST QUARTER 2026 RESULTS

-- First Quarter GAAP Diluted Earnings Per Share of $3.11; Adjusted Diluted Earnings Per Share of $3.37 --

-- Increases 2026 GAAP Diluted EPS Guidance to Greater than $2.37 & Adjusted Diluted EPS to Greater than $3.40 --

•Strong first quarter 2026 adjusted diluted EPS of $3.37, approximately $0.50 better than our expectations.

•Medicaid HBR of 93.1%, reflecting continued tangible progress managing medical costs coupled with moderate flu.

•Medicare segment HBR of 84.9%, from outperformance in both Medicare Advantage and PDP.

•Commercial HBR of 75.3%, slightly above expectations, primarily reflecting higher acuity among Marketplace Silver Tier members prior to anticipated future 2026 net risk adjustment benefit. Marketplace pre-tax earnings for Q1 were in-line with expectations inclusive of favorable SG&A.

•$1.0 billion of debt reduction during the first quarter 2026.

ST. LOUIS, April 28, 2026 -- Centene Corporation (NYSE: CNC) (the Company) announced today its financial results for the first quarter ended March 31, 2026. In summary, the 2026 first quarter results were as follows:

Total revenues (in millions)$49,944

Premium and service revenues (in millions)$44,655

Health benefits ratio87.3 %

SG&A expense ratio7.6 %

Adjusted SG&A expense ratio (1) 7.6 %

GAAP diluted earnings per share$3.11

Adjusted diluted earnings per share (1) $3.37

Total cash flow provided by operations (in millions)$4,366

(1)

Represents a non-GAAP financial measure. A full reconciliation of the adjusted diluted earnings per share (EPS) and adjusted selling, general and administrative (SG&A) expenses is shown in the Non-GAAP Financial Presentation section of this release.

"We continue to make tangible progress in our margin recovery efforts while strengthening the fundamental operations of each of our businesses," said Chief Executive Officer of Centene, Sarah M. London. "Our strong first quarter results position us to increase our full year 2026 adjusted diluted EPS guidance to greater than $3.40. We remain confident in the long-term earnings power of the enterprise and motivated by the positive and lasting impact we can deliver for the families and communities we serve."

1

Awards & Community Engagement

•In March, the Centene Foundation and Carolina Complete Health, a Centene subsidiary, announced their investment in and groundbreaking of the Northeast Winston-Salem Choice Neighborhood Initiative. In partnership with McCormack Baron Salazar, the investment will help rebuild 244 affordable housing units and connect residents to essential healthcare and address community needs.

•In March, the Centene Foundation and WellCare of Kentucky, a Centene subsidiary, launched the WellCare Food is Medicine Program to address diabetes-related needs in rural Kentucky. The program will provide eligible Medicaid enrollees with diabetes access to weekly home-delivered, medically tailored meals, recipes, and educational materials for up to three years.

•In February, Buckeye Health Plan, a Centene subsidiary, announced awards to six Ohio healthcare providers under the Provider Accessibility Initiative, a program supported by the National Council on Independent Living's Barrier Removal Fund. The funding will be used to purchase equipment to support patients with disabilities and make ADA-compliant improvements to provider facilities, such as handrails, wheelchair ramps, and sliding doors.

•In January, Centene was named one of the World's Most Admired Companies™ by Fortune® for the eighth consecutive year. The distinction was determined based on Centene's quality of management and products, social responsibility, ability to attract talent, and more.

Membership

The following table sets forth membership by line of business:

March 31,

20262025

Traditional Medicaid (1) 10,923,100 11,369,400

High Acuity Medicaid (2) 1,503,800 1,589,400

Total Medicaid12,426,900 12,958,800

Marketplace3,582,200 5,626,000

Individual and Commercial Group (3) 481,000 448,200

Total Commercial4,063,200 6,074,200

Medicare (4) 1,002,200 1,043,200

Medicare Prescription Drug Plan (PDP) 8,780,600 7,867,800

Total at-risk membership26,272,900 27,944,000

(1)

Membership includes Temporary Assistance for Needy Families (TANF), Medicaid Expansion, Children's Health Insurance Program (CHIP), Foster Care, and Behavioral Health.

(2)

Membership includes Aged, Blind, or Disabled (ABD), Intellectual and Developmental Disabilities (IDD), Long-Term Services and Supports (LTSS), and Medicare-Medicaid Plans (MMP) Duals. The Company operated MMPs through December 31, 2025. In 2026 these members are inclu

cnc-202602060001071739false00010717392026-02-062026-02-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 6, 2026

CENTENE CORPORATION

(Exact Name of Registrant as Specified in Charter)

Delaware001-3182642-1406317 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)

7700 Forsyth Boulevard, St. Louis,Missouri63105 (Address of Principal Executive Offices)(Zip Code)

Registrant’s telephone number, including area code: (314) 725-4477 (Former Name or Former Address, if Changed Since Last Report): N/A Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, $0.001 Par Value CNCNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

(a) On February 6, 2026, we issued a press release announcing our financial results for the fourth quarter and year ended December 31, 2025. The full text of the press release is included as Exhibit 99.1 to this report. The information contained in the website cited in the press release is not a part of this report. Additionally, we have included a presentation outlining details of our full year 2026 guidance.

The information contained in this Form 8-K, Exhibit 99.1 and Exhibit 99.2 attached hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. Nor shall such information or exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as expressly set forth by specific reference in such a filing.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits The following exhibits relating to Item 2.02 shall be deemed to be furnished and not filed: 99.1 Press release of Centene Corporation issued February 6, 2026, as to financial results for the fourth quarter and year ended December 31, 2025 99.2 Centene Corporation 2026 Guidance Presentation

EXHIBIT INDEX

Exhibit NumberDescription 99.1*Press release of Centene Corporation issued February 6, 2026 as to financial results for the fourth quarter and year ended December 31, 2025

99.2*Centene Corporation 2026 Guidance Presentation

104Cover page information from Centene Corporation’s Current Report on Form 8-K filed on February 6, 2026 formatted in Inline Extensible Business Reporting Language (iXBRL).

*The press release and presentation are being furnished pursuant to Item 2.02, and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange of 1934, as amended.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CENTENE CORPORATION

Date:February 6, 2026By:/s/ ANDREW L. ASHER Andrew L. Asher Executive Vice President & Chief Financial Officer