Filing Flows › Centene (CNC) › Q3 2026
Centene (CNC) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 27, 2026
Centene (CNC) reported revenue of $50.6B for the third quarter 2026 (Q3 2026), +2% from a year earlier and -5% from the quarter before. Operating margin was -0.6%, net loss $65.0M (0.1% of revenue).
Centene, Q3 2026: revenue $50.6B (+2% year over year), operating margin -0.6%, net loss $65.0M, operating cash flow −$3.7B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $50.6B | -5% | +2% |
| Operating profit | −$307M | -126% | — |
| Net earnings | −$65.0M | -106% | — |
| Operating cash flow | −$3.7B | -202% | -371% |
What changed
Revenue was $50.6B in Q3 2026, up 2% year over year and down 5% from the previous quarter. Medicaid was the largest line at 58% of revenue. Medicare added $1.9B year over year (up 20%), 196% of the total change. Commercial declined 21%.
Gross margin was 6.5%, down 0.2 points from Q3 2025. Operating costs exceeded revenue by $0.31B, an operating margin of -0.6%. Operating expenses fell 65% while revenue rose 2%. The quarter ended with a net loss of $0.07B, after a profit of $1.1B the previous quarter. Non-operating items added $0.18B, -152% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$3.7B. Non-cash charges added back $0.30B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $4.0B. Capital expenditures of $0.19B exceeded it, leaving free cash flow of −$3.9B.
Questions
What was Centene's revenue in the third quarter 2026?
Centene (CNC) reported revenue of $50.6B for the third quarter 2026 (Q3 2026), +2% from a year earlier and -5% from the quarter before.
Was Centene profitable in the third quarter 2026?
Operating loss was $307M (-0.6% of revenue) and net loss $65.0M.
Source: Centene 10-Q on SEC EDGAR.