Centene slumps after withdrawing 2025 forecast
ReutersJul 1, 2025 8:56 PM
Shares of health insurer Centene CNC.N fall 20.6% to $45 after the bell
CNC withdraws its 2025 earnings forecast
Preliminary data from 22 of 29 states where CNC offers plans show a $1.8 billion drop in risk adjustment revenue, representing a $2.75 hit to adj. EPS
CNC's Medicaid business has experienced a step-up in medical cost trend in behavioral health, home health and high-cost drugs
Expects Q2 Medicaid Health Benefits Ratio (HBR) to be higher than Q1 Medicaid HBR
CNC has fallen 6.5% YTD
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