U.S. healthcare insurance provider Centene Corporation (NYSE:CNC) stock fell on Friday on a mixed outlook for fiscal 2026.
Earnings Snapshot
The company reported a fourth-quarter 2025 adjusted loss of $1.19, beating the consensus loss of $1.22 per share, a turnaround from an income of 80 cents a year ago.
Centene’s sales surged from $40.81 billion to $49.73 billion, exceeding the consensus estimate of $48.39 billion.
For the fourth quarter of 2025, premium and service revenues increased 23% to $44.7 billion, primarily driven by premium yield and membership growth in the PDP business, overall market growth in the Marketplace business, as well as rate increases and state-directed payments in the Medicaid business, partially offset by lower Medicaid membership.
Centene’s health benefits ratio (HBR) is 94.3%, up from 89.6% a year ago.
The increase was primarily driven by the impact of higher Marketplace morbidity in 2025 …