Centene said the HBR for Q2 2025 was 93.0%, compared to 87.6% in the year-ago quarter. GAAP diluted loss per share was $(0.51) and adjusted diluted loss per share was $(0.16). The company cited a reduction in its net 2025 Marketplace risk adjustment revenue transfer estimate as the primary driver of both per-share losses.

10-QQuarterly reportFiled Jul 25, 2025Period of report Jun 30, 2025Summary published (UTC) Oct 11, 2026

Key points

AI summary

Centene said the HBR for Q2 2025 was 93.0%, compared to 87.6% in the year-ago quarter. GAAP diluted loss per share was $(0.51) and adjusted diluted loss per share was $(0.16). The company cited a reduction in its net 2025 Marketplace risk adjustment revenue transfer estimate as the primary driver of both per-share losses.
Centene said premium and service revenues for Q2 2025 were $42.5 billion, representing 18% growth year-over-year, and managed care membership was 28.0 million, a decrease of 473 thousand or 2% year-over-year. The company cited premium and membership growth in the PDP business as factors in the 22% increase in total revenues.
Centene said operating activities provided cash of $3.3 billion for the 6 months ended June 30, 2025, compared to $1.7 billion in the year-ago period, and financing activities used cash of $1.4 billion. It added that the financing activities included a net debt reduction of $969 million and share repurchases of $473 million.
Centene said it repurchased 6.7 million shares for $400 million under its share repurchase program in Q2 2025, and the remaining authorization under the program as of June 30, 2025 was $1.8 billion. The company said the program has no expiration date.

Key figures

Quarter ended June 30, 2025

Operating income: −$458M
Net income: −$253M
EPS: −$0.51
Gross profit: $3.0B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q2 HBR 93.0%, Adjusted Diluted Loss Per Share $(0.16)

Centene said the HBR for Q2 2025 was 93.0%, compared to 87.6% in the year-ago quarter. GAAP diluted loss per share was $(0.51) and adjusted diluted loss per share was $(0.16). The company cited a reduction in its net 2025 Marketplace risk adjustment revenue transfer estimate as the primary driver of both per-share losses.

Source · Based on the MD&A text of the filing

Q2 Premium and Service Revenues $42.5 billion

Centene said premium and service revenues for Q2 2025 were $42.5 billion, representing 18% growth year-over-year, and managed care membership was 28.0 million, a decrease of 473 thousand or 2% year-over-year. The company cited premium and membership growth in the PDP business as factors in the 22% increase in total revenues.

Source · Based on the MD&A text of the filing

6-Month Operating Cash Flow $3.3 billion, Share Repurchases

Centene said operating activities provided cash of $3.3 billion for the 6 months ended June 30, 2025, compared to $1.7 billion in the year-ago period, and financing activities used cash of $1.4 billion. It added that the financing activities included a net debt reduction of $969 million and share repurchases of $473 million.

Source · Based on the MD&A text of the filing

Q2 Share Repurchases $400 million, Remaining Authorization $1.8 billion

Centene said it repurchased 6.7 million shares for $400 million under its share repurchase program in Q2 2025, and the remaining authorization under the program as of June 30, 2025 was $1.8 billion. The company said the program has no expiration date.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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