Centene (CNC) Reports Q3 Earnings: What Key Metrics Have to Say

Core Insights - Centene reported revenue of $49.69 billion for the quarter ended September 2025, reflecting an 18.2% increase year-over-year and a surprise of +4.35% over the Zacks Consensus Estimate of $47.62 billion [1] - The earnings per share (EPS) was $0.50, a significant decrease from $1.62 in the same quarter last year, with an EPS surprise of +338.1% compared to the consensus estimate of -$0.21 [1] Financial Performance Metrics - Total Medical Health Benefits loss ratio was reported at 92.7%, slightly better than the estimated 93% [4] - Membership in High Acuity Medicaid was 1.59 million, close to the estimated 1.6 million [4] - Medicare PDP membership reached 7.97 million, exceeding the average estimate of 7.88 million [4] - Medicare membership was reported at 1.01 million, slightly below the estimated 1.03 million [4] Revenue Breakdown - Premium revenues totaled $44.13 billion, surpassing the average estimate of $42.81 billion, with a year-over-year increase of +22.2% [4] - Service revenues were $772 million, slightly below the average estimate of $727.33 million, representing a -1.5% change year-over-year [4] - Combined premium and service revenues were $44.9 billion, exceeding the average estimate of $43.54 billion, with a year-over-year increase of +21.7% [4] - Premium tax revenues were $4.79 billion, above the average estimate of $4.07 billion, showing a -6.5% change year-over-year [4] - Medicaid premium and service revenues were $23.17 billion, exceeding the estimate of $22.33 billion, with an +8.7% change year-over-year [4] - Commercial premium and service revenues reached $10.99 billion, surpassing the estimate of $10.41 billion, reflecting a +26.5% year-over-year increase [4] - Medicare premium and service revenues were $9.39 billion, slightly below the average estimate of $9.53 billion, with a significant +66.4% change year-over-year [4] - Other premium and service revenues totaled $1.34 billion, exceeding the estimate of $1.25 billion, representing a +7.8% change year-over-year [4]