Centene reported $1.1 billion in profit for the second quarter of 2026, rebounding from a loss a year ago.
In the prior-year quarter, the company posted a $253 million loss. Profits at the midpoint of 2026 were $2.6 billion, compared to the $1.05 billion the company had earned through two quarters in 2025, according to its earnings report released Tuesday morning.
Revenues in Q2 were $53.6 billion, up from $48.7 billion in the second quarter of 2025. Mid-year revenue was $103.5 billion, compared to $95.4 billion through the first half of 2025.
The company surpassed Wall Street analysts' expectations for both profit and revenue in the quarter, per Zacks Investment Research.
CEO Sarah London said in the press release that the improvements in performance "represent meaningful milestones on our path to restoring profitability and increasing shareholder value."
"We are excited by the positive momentum we have built and remain focused on our goal of delivering industry-leading health outcomes with an industry-leading cost structure," London said.
On the back of the Q2 results, Centene raised its guidance and now expects at least $4.80 in earnings per share for the year. The company also boosted its revenue outlook to between $193.5 billion to $197.5 billion.
One area where the company is seeing results is in managing medical costs. Its medical loss ratio for the quarter was 89.6%, down from 93% in the prior-year quarter. Centene said the improvements there reflected improved pricing in its marketplace plans and "tangible progress in managing medical costs in the Medicaid business."
Centene's commercial plans were another bright spot, with the medical loss ratio there landing at 79.2%, per the report.
Total membership was 25.9 million in Q2, down from 28 million in the second quarter of 2025. The bulk of that decline is in its Affordable Care Act marketplace plans, where enrollment decreased from 5.9 million to 3.5 million, in line with the company's expectations.