secwatch.observer — SEC 8-K summary
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Issuer:     CENTENE CORP (CNC)
CIK:        0001071739
Form:       8-K
Filed at:   2025-07-01T23:59:59+00:00
Accession:  0001071739-25-000128
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1071739/000107173925000128/0001071739-25-000128-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1071739/000107173925000128/cnc-20250701.htm
  HTML page:      https://secwatch.observer/filing/0001071739-25-000128

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer