Centene beat the Street on both profit and revenue in the first quarter of 2025, reporting $1.3 billion in earnings Friday morning.
That’s up slightly from the $1.2 billion the company posted in the prior-year quarter, according to its earnings report. It also equals $2.63 in earnings per share, while investors had anticipated $2.36, according to Zacks Investment Research.
Centene also reported $46.6 billion in revenue for the quarter, which surpassed Wall Street’s predictions, too, per Zacks. It also marks notable growth from the $40.4 billion the company brought in for the first quarter of 2024.
“Our first quarter results demonstrate the resiliency of Centene’s platform and the progress we are making as an organization while navigating a dynamic policy landscape,” Sarah London, Centene’s CEO, said in a press release.
The medical loss ratio was 87.5%, which is on par with what industry peers have reported so far in the first quarter.
In the earnings report, the company highlighted some key wins inked in the first quarter, such as winning a contract in Nevada to continue serving its Medicaid managed care program. Centene also extended its Medicaid relationship in Illinois, according to the report.
Centene boasted 27.9 million members as of March 31, including just shy of 13 million individuals enrolled in Medicaid coverage and 5.6 million in Affordable Care Act marketplace plans. It also reported about 1 million people in its Medicare Advantage and supplement plans, as well as 7.7 million people enrolled in its Medicare prescription drug plans.
Thanks to the first-quarter results, Centene said it is boosting its revenue guidance for the year and now expects between $164 billion and $166 billion for 2025. The company attributed the $6 billion increase to its guidance range to outperformance in enrollment for both the marketplace and Medicare Advantage.
The company also reiterated its earnings guidance and anticipates at least $7.25 per share.
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