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Centene's First Quarterly Loss In 13 Years Sends Shares Crashing
Healthcare insurance giant Centene Corporation (NYSE:CNC) saw its stock tumble significantly on Friday after reporting a surprising second-quarter 2025 adjusted loss of 16 cents per share. This stark reversal from an adjusted income of $2.42 per share in the prior year quarter sharply contrasted with analyst expectations of a $1.26 per share profit, marking the company's first quarterly loss since the second quarter of 2012, according to data from Benzinga Pro. Despite the earnings shortfall, Centene demonstrated strong top-line growth, with sales surging 22% year-over-year to $48.74 billion, comfortably exceeding the consensus estimate of $44.48 billion. However, this revenue performance was overshadowed by substantial increases in medical costs.'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,' stated Sarah London, Chief Executive Officer of Centene, acknowledging the challenging quarter. The company's premium and service revenues climbed 18% to $42.5 billion from $36.0 billion a year ago. This growth was primarily fueled by expanding premium and membership in the Prescription Drug Plan (PDP) business, overall market growth in the Marketplace business, and rate increases within the Medicaid segment. These gains, however, were partially offset by a decline in Medicaid membership due due to ongoing redeterminations and reduced net risk adjustment revenue in the Marketplace. View more earnings on CNC A critical factor in the earnings miss was the deterioration of Centene's Health Benefits Ratio (HBR), which climbed to 93.0% in the second quarter of 2025, up from 87.6% in the corresponding period last year. This increase primarily stemmed from a reduction in the company's estimated net 2025 Marketplace risk adjustment revenue transfer, escalating medical costs within the Marketplace, higher Medicaid medical costs driven by behavioral health services, home health, and high-cost drugs, and an increase in the 2025 Medicare Advantage premium deficiency reserve as earnings progressed through the year. Total membership across Centene's diverse portfolio declined to 28 million from 28.48 million a year ago, predominantly due to a reduction in Medicaid membership from 13.14 million to 12.82 million. Conversely, the company experienced strong membership growth in other key areas, with Marketplace enrollment increasing 33% to 5.86 million and Medicare PDP expanding 19% to 7.85 million compared to the second quarter of 2024. Earlier in July, Centene had already signaled potential headwinds by withdrawing its 2025 GAAP and adjusted diluted EPS guidance, following an initial review of 2025 industry data from Wakely, an independent actuarial firm. The company announced that it would provide updated guidance during its earnings conference call. Centene's stock performance this quarter mirrors a broader trend within the healthcare insurance sector, as evidenced by the recent decline in shares of competitors like Elevance Health Inc. (NYSE:ELV) and Cigna following their own earnings reports. Elevance Health notably saw its stock plummet after missing analyst expectations for its second-quarter 2025 adjusted earnings and significantly lowering its full-year guidance, despite strong revenue growth. In premarket trading on Friday, Centene's stock plummeted 14.5% to $22.89, falling below its previous 52-week low of $26.66. The continued downward pressure underscores significant investor concern over the unexpected quarterly loss and the challenging operational environment impacting the healthcare insurance industry. Read Next:Image via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? CENTENE (CNC): Free Stock Analysis Report This article Centene's First Quarterly Loss In 13 Years Sends Shares Crashing originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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Decorated Veteran and Top-Producing Loan Officer Brian Bloete Joins Rate
Brian Bloete MONTVILLE, N.J., July 25, 2025 (GLOBE NEWSWIRE) -- Rate, a leading fintech company, proudly announces the addition of Brian Bloete, a decorated U.S. Marine Corps veteran and top-producing loan officer, to its team in Montville, NJ. Bloete joins Rate as part of the company's continued commitment to attracting elite originators who prioritize service, integrity, and performance. Shop Top Mortgage Rates Personalized rates in minutes Your Path to Homeownership A quicker path to financial freedom Since joining the mortgage industry in 2016, Bloete has closed more than $250 million in loans, earning recognition as a Scotsman Guide Top 1% Originator every year from 2020 through 2025. Known for delivering tailored financing solutions and guiding clients through complex lending decisions with confidence, Bloete brings a customer-first mindset and proven production to Rate's expanding Northeast footprint. 'I moved to Rate to join a winning team, one with cutting-edge technology and product offerings that allow me to better serve every client,' said Bloete. 'This platform empowers me to provide personalized mortgage solutions that make a real difference for borrowers.' 'We're very excited to welcome Brian, a proud U.S. Marine Corps veteran and top-producing loan officer, to Rate,' said Jeff Nelson, Chief Production Officer, East at Rate. 'His success stems from ensuring borrowers receive tailored mortgage options that are specific to their home needs while always prioritizing the customer-first philosophy. Welcome to Rate, Brian!' Rate continues to attract elite producers looking to grow their businesses while delivering exceptional borrower outcomes. The addition of Brian Bloete reinforces Rate's strong presence in the Montville area and its appeal to highly accomplished, service-driven professionals. About Rate Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate has over 850 branches across all 50 states and Washington, D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans, refinances, and home equity loans. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Recent honors and awards include: a Best Mortgage Lender of 2025 by Fortune; Best Mortgage Lender of 2025 for First-Time Homebuyers by Forbes; a Best Mortgage Lender of 2025 for FHA Loans, Home Equity Loans, and Lower Credit Scores by NerdWallet; Best Mortgage Lender of 2025 for Digital Experience and Down Payment Assistance by Motley Fool; Chicago Agent Magazine's Lender of the Year for seven consecutive years. Visit for more information. Media Contact:press@ A photo accompanying this announcement is available at l'accesso per consultare il tuo portafoglio
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18 minutes ago
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KB Financial Group Inc (KB) Q2 2025 Earnings Call Highlights: Strong Profit Growth Amidst ...
Release Date: July 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points KB Financial Group Inc (NYSE:KB) reported a significant increase in net profit for the first half of 2025, up 23.8% year over year, reaching 3 trillion 435.7 billion yuan. The company maintained a strong ROE of 13.03% and a CET1 ratio of 13.74%, indicating robust capital management. Non-interest income increased by 10.9% year over year, driven by gains from asset disposition and improved securities and derivatives performance. The diversified business portfolio contributed to earnings stability, with non-bank sectors accounting for 39% of the group's first-half net profit. KB Financial Group Inc (NYSE:KB) plans a substantial shareholder return, with a total of 3 trillion CNY10 billion for 2025, reflecting a firm commitment to shareholder value. Negative Points Net interest margin contracted due to market rate cuts, with the Group NIM decreasing by 5 basis points quarter over quarter. Despite efforts to cut funding costs, the bank's net interest margin posted a decline, impacting profitability. GNA expenses grew by 4.1% year over year, which could pressure future profitability if not managed effectively. Credit loss provisioning remained high, with additional provisions for real estate projects, indicating ongoing risk management challenges. The interest rate decline trend is expected to continue, potentially impacting future net interest income and margin. Q & A Highlights Warning! GuruFocus has detected 7 Warning Sign with KB. Q: Can you elaborate on the shareholder return strategy for the second half of 2025? A: Larsan Ro, CFO, explained that KB Financial Group plans to use funds above the CET1 ratio of 13.5%, amounting to CNY850 billion, for shareholder returns in the second half. This includes a second round of shareholder returns totaling around 1 trillion 150 billion yuan, following a proactive buyback of $300 billion in the second quarter. The total annual cash dividend for 2025 is projected at $1.34 trillion, with a $335 billion dividend for Q2 and a DPS of 920 Korean won. Additionally, 660 billion won of Treasury shares will be bought back and canceled. The total shareholder return for 2025 is expected to be 3 trillion CNY10 billion, a significant increase from the previous year. Q: How did KB Financial Group perform in terms of net profit and ROE for the first half of 2025? A: Larsan Ro, CFO, reported that the group's net profit for Q2 was 1 trillion 738.4 billion yuan, with a first-half cumulative profit of 3 trillion 435.7 billion yuan, marking a 23.8% year-over-year increase. The ROE stood at 13.03%. This performance was driven by higher non-interest income and recovery from non-operating profit, with non-interest income up 10.9% year-over-year. Q: What are the key directions for capital discipline in the second half of 2025? A: Larsan Ro, CFO, outlined three key directions: maintaining the announced shareholder return framework with consistency, managing risk-weighted assets with greater precision, and balancing between ROE and capital ratio to ensure shareholder return expansion is sustainable. The focus will be on solidifying market trust and ensuring the fundamentals guarantee the bottom line. Q: How did the group's non-interest income and net fee income perform in the first half of 2025? A: Larsan Ro, CFO, stated that the group's non-interest income improved by 10.9% year-over-year, reaching 2 trillion 723.3 billion won. This was due to improved performance in securities and derivatives, driven by a decline in exchange rates and a rise in the stock market index. Net fee income increased by 2.9% year-over-year, with significant contributions from bancassurance sales commissions and securities brokerage fees. Q: What is the outlook for asset quality and credit costs in the second half of 2025? A: Larsan Ro, CFO, indicated that asset quality management conditions are expected to improve favorably due to government economic stimulus efforts and support for vulnerable borrowers. The credit cost is believed to have passed its cyclical peak and is entering a downward phase. The group aims to achieve meaningful improvements in asset quality by rebalancing non-performing assets and reducing high-risk asset limits. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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European and Iranian diplomats meet in Istanbul as return of sanctions looms over nuclear deadlock
ISTANBUL (AP) — Talks between Iranian and European diplomats in Istanbul ended Friday with the sides agreeing to meet again to seek to unpick the deadlock over Tehran's nuclear program. Representatives from Britain, France and Germany, known as the E3 nations, gathered at the Iranian Consulate building for the first talks since Iran's 12-day war with Israel in June, which involved U.S. bombers striking nuclear-related facilities. The talks, which ended after four hours, centered on the possibility of reimposing sanctions on Iran that were lifted in 2015 in exchange for Iran accepting restrictions and monitoring of its nuclear program. Iranian negotiator, Deputy Foreign Minister Kazem Gharibabadi, said that the 'serious, frank and detailed' meeting focused on the nuclear issue and the status of sanctions while agreeing to further discussions. Snapback mechanism The E3 nations had earlier warned that sanctions could return under a process known as the 'snapback' mechanism, which allows one of the Western parties to reimpose U.N. sanctions if Tehran doesn't comply with its requirements. 'Both sides came to the meeting with specific ideas,' Gharibabadi said in a social media post. 'It was agreed that consultations on this matter will continue.' As the talks were ongoing, Iran's Foreign Ministry spokesman, Esmail Baghaei, said that he hoped that the meeting would see the E3 nations reassess their 'previous unconstructive attitude.' European leaders have said sanctions will resume by the end of August, if there is no progress on containing Iran's nuclear program. The snapback mechanism 'remains on the table," a European diplomat said on condition of anonymity because of the sensitivity of the talks, 'A possible delay in triggering snapback has been floated to the Iranians on the condition that there is credible diplomatic engagement by Iran, that they resume full cooperation with the IAEA (International Atomic Energy Agency), and that they address concerns about their highly-enriched uranium stockpile,' the diplomat said prior to Friday's negotiations. Rebuilding trust Tehran, meanwhile, has said that Washington, which withdrew from the 2015 deal during the first term of U.S. President Donald Trump, needs to rebuild faith in its role in negotiations. Gharibabadi previously said that Iran's engagement was dependent on 'several key principles' that included 'rebuilding Iran's trust — as Iran has absolutely no trust in the United States.' In a social media post on Thursday, he also said that the talks shouldn't be used 'as a platform for hidden agendas such as military action.' Gharibabadi insisted that Iran's right to enrich uranium 'in line with its legitimate needs' be respected, and sanctions removed. Iran has repeatedly threatened to leave the Nuclear Nonproliferation Treaty, which commits it to refrain from developing nuclear weapons, if sanctions return. Europe's role Friday's talks were held at the deputy ministerial level, with Iran sending Gharibabadi and a fellow deputy foreign minister, Majid Takht-e Ravanchi. A similar meeting was held in Istanbul in May. The identity of the E3 representatives weren't immediately clear, but the European Union's deputy foreign policy commissioner was thought to be attending. The U.K., France and Germany were signatories to the 2015 deal, alongside the U.S., Russia and China. When Washington withdrew in 2018, Trump insisted the agreement wasn't tough enough. Under the original deal, neither Russia nor China can veto reimposed sanctions. Since the Israeli and U.S. strikes on Iran, which saw American B-52 bombers hit three nuclear sites, Iranian Foreign Minister Abbas Araghchi has accused the E3 of hypocrisy, saying that they failed to uphold their obligations while supporting Israel's attacks. Uncertainty ahead Against the backdrop of the conflict, in which Iran responded with missile attacks on Israel and a strike on a U.S. base in Qatar, the road ahead remains uncertain. While European officials have said they want to avoid further conflict and are open to a negotiated solution, they have warned that time is running out. Tehran maintains that it's open to diplomacy, though it recently suspended cooperation with the IAEA. A central concern for Western powers was highlighted when the IAEA reported in May that Iran's stockpile of uranium enriched to 60% — just below weapons-grade level — had grown to more than 400 kilograms (nearly 900 pounds). In an interview with Al Jazeera that aired Wednesday, Iranian President Masoud Pezeshkian said that Iran is prepared for another war and reiterated that its nuclear program will continue within the framework of international law, while adding that the country had no intention of pursuing nuclear weapons. A spokesman for Iran's Atomic Energy Organization said Thursday that the country's nuclear industry would 'grow back and thrive again' after the recent attacks by Israel and the U.S. ___ Stephanie Liechtenstein reported from Vienna. Nasser Karimi and Amir Vahdat contributed to this report from Tehran, Iran. ___ The Associated Press receives support for nuclear security coverage from the Carnegie Corporation of New York and Outrider Foundation. The AP is solely responsible for all content. ___ Additional AP coverage of the nuclear landscape: Andrew Wilks And Stephanie Liechtenstein, The Associated Press Sign in to access your portfolio
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Trump's visit to Scotland is in ‘public interest', says Chancellor
The visit of US President Donald Trump to Scotland is in the 'public interest', Chancellor Rachel Reeves has said. Mr Trump is due to touch down in Scotland on Friday evening ahead of a four-day visit, during which he will meet Prime Minister Sir Keir Starmer and First Minister John Swinney. His meeting with Sir Keir is seen as a chance to refine the UK-US trade deal which came into force last month. Speaking to journalists during a visit to the Rolls-Royce factory near Glasgow Airport on Friday morning, the Chancellor talked up the importance of the visit. 'It's in Britain's national interest to have strong relations with the US administration and as a result of both that long-term special relationship, but actually more importantly, the work that our Prime Minister Keir Starmer has done in building that relationship with President Trump has meant that we were the first country in the world to secure a trade deal,' she said. 'That has a tangible benefit for people here in Scotland, whether it is people working in the Scotch whisky industry or people working in the defence sector like here at Rolls-Royce, that trade deal means lower tariffs than any country in the world on things that we send to the US.' Ms Reeves dodged a question relating to senior ministers – including Health Secretary Wes Streeting, Foreign Secretary David Lammy and Scottish Secretary Ian Murray – supporting a motion when in opposition in 2019 calling for the president's first state visit to be cancelled and accusing him of 'misogyny, racism and xenophobia'. Mr Trump is expected to visit both of his golf clubs in Scotland – in South Ayrshire and Aberdeenshire – during the visit, which has been described as 'private' by the White House, before leaving on Tuesday. His presence is likely to spark protests across the country, with Police Scotland being forced to request aid from other forces to help increase manpower for the trip. In a carefully worded statement ahead of the visit, Mr Swinney said the focus it will bring to Scotland will allow people to have their voice heard on issues including 'war and peace, justice and democracy'. Speaking to the PA news agency on Friday, the First Minister said his meeting with Mr Trump would present an opportunity to 'essentially speak out for Scotland' on issues like trade and the increase of business from the United States in Scotland. 'But there are clearly also significant international issues upon which the people of Scotland have a view and want to have that view expressed by their First Minister,' he said. 'That relates to the awfulness of the situation in Gaza and the unbearable human suffering that is going on in Gaza. 'I want to make sure that those concerns and those views are expressed to the President of the United States. 'We have that opportunity, and I intend to take that opportunity to make sure that Scotland's voice is heard.' Mr Swinney also urged all of those set to protest against the President's visit to do so 'peacefully and to do so within the law'.
