WASHINGTON (dpa-AFX) - Tuesday, Centene Corporation (CNC) announced its second-quarter financial results, reporting a net income of $1.091 billion, or $2.19 a share, attributable to the company, compared with a loss of $253 million, or $0.51 a share, in the prior year.
The company returned to profitability this quarter, primarily driven by higher operating earnings.
On an adjusted basis, earnings totaled $1.248 billion, or $2.51 per share, versus a loss of $79 million, or $0.16 per share, in the earlier year.
Total revenues increased to $53.579 billion from last year's $48.742 billion.
Looking ahead to the full year 2026, the company has raised its total revenues guidance range by $6.0 billion to a range of $193.5 billion to $197.5 billion, driven by premium tax revenue, Marketplace, and Medicaid.
Also, it now anticipates earnings of more than $3.11 per share and adjusted earnings of over $4.80 per share for the full year 2026.
Concurrently, the company announced the retirement of Kenneth Burdick from its Board of Directors. He will be replaced by Paul Diaz, effective July 28, 2026. Diaz is a Managing Partner at Cressey & Company, a private investment firm.
In the pre-market hours, CNC is trading at $65.30, up 1.93 percent on the New York Stock Exchange.
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