Health insurer Centene reports surprise quarterly loss
"We are disappointed by our second-quarter results, but we have a clear understanding of the trends that have impacted our performance, and are working with urgency and focus to restore our earnings trajectory," CEO Sarah London said.
The health insurance industry has seen elevated medical costs and changing enrollment patterns, at a time when it braces for big spending cuts and rule changes under the Trump administration.
Earlier this month, Centene withdrew its 2025 earnings forecast due to an expected revenue slump from commercial plans under Affordable Care Act, also known as Obamacare. These plans offer a sliding scale of government subsidies based on income.
For the second quarter, the health insurer reported adjusted loss per share of 16 cents, compared to analysts estimates of a profit of 86 cents per share, according to data compiled by LSEG.
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