---
schema_version: "secwatch.filing_event.v1"
accession: "0001071739-25-000128"
form_type: "8-K"
ticker: "CNC"
cik: "0001071739"
company_name: "CENTENE CORP"
filed_at: "2025-07-01T23:59:59+00:00"
generated_at: "2026-05-18T09:52:14.973712+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Centene withdraws 2025 guidance due to $1.8B risk adjustment hit

## Summary
- Withdraws 2025 GAAP and adjusted EPS guidance; preliminary $1.8B net risk adjustment revenue reduction (~$2.75 EPS impact).
- Wakely data from 22 states (72% of Marketplace membership) shows significantly higher market morbidity than assumed.
- Q2 Medicaid HBR expected higher than Q1 due to step-up in behavioral health, home health, and high-cost drug trends in NY and FL.
- Medicare Advantage and PDP performing better than expected in Q2 2025; SG&A leverage continues.
- Second quarter 2025 results to be reported on July 25, 2025.

## SEC filing metadata
- accession: 0001071739-25-000128
- form_type: 8-K
- ticker: CNC
- cik: 0001071739
- company_name: CENTENE CORP
- filed_at: 2025-07-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1071739/000107173925000128/0001071739-25-000128-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1071739/000107173925000128/cnc-20250701.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001071739-25-000128
- JSON: https://secwatch.observer/filing/0001071739-25-000128.json
- Plain text: https://secwatch.observer/filing/0001071739-25-000128.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.