Centene Corporation
CNC Healthcare Healthcare Plans
Centene Corporation’s revenue for fiscal 2025 (year ended December 2025) was $194.8 billion, up 19.4% from fiscal 2024. In the quarter to June 2026, revenue grew 9.92%, EPS grew 533.3%, free cash flow grew 116.6% and total debt fell 8.37%, each against the same quarter a year earlier. Member of the S&P 500; revenue growth for ten consecutive years.
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Centene Corporation 10-Q filed Jul 28, 2026
What changed
Part I, Item 2, Management’s Discussion and Analysis, against the 10-Q filed Apr 28, 2026: 26 added · 5 removed · 27 modified; 29 with only figures updated; 1 moved without change
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Modified · Regulatory: Medicaid
The OBBBA, passed in July 2025, includes requirements that may reduce the number of members eligible for state Medicaid Expansion programs by requiring work or community engagement by members and for state Medicaid agencies to redetermine member eligibility at more frequent intervals, along with adding a "Cost Sharing" or "Co-Pay" for certain medical services. These changes could have the effect of increasing the overall morbidity of the Medicaid Expansion population largely beginning in 2027, subject to state implementation plans. Several other provisions of the OBBBA, such as adjustments to provider taxes and state directed payments beginning in 2028, may have the effect of reducing the amount of federal funding for Medicaid, which could result in changes in the design of Medicaid programs, including coverage of benefits, eligibility, and/or provider payment rates. For example, in July 2026, New York
will terminateterminated its Essential Plan-5, which provided state-subsidized healthcare for individuals from 200% to 250% of the Federal Poverty Level (FPL). TheOBBBA also includes a restriction against paying certain providers designated as "prohibited entities" as of October 1timing of regulatory guidance and other rulemaking changes will be critical to ensuring state and MCO implementation readiness. On June 29,20252026,which has the potential to create access to care issuesa coalition of 26 states, including 24 Democratic attorney generals andnetwork gapstwo governors, challenged CMS' interim rule issued on June 3, 2026 implementing the work requirements. Thetiminglawsuit is asking the court to block certain provisions ofregulatory guidance and other rulemaking changes will be critical to ensuring statethe interim final rule that it alleges are unlawful. The lawsuit may create additional delays andMCOuncertainty regarding the implementationreadinessand effect of work requirements on Medicaid beneficiary eligibility.
57 more changes in this Item, word by word, in Powerpack.
Powerpack