Centene (CNC) is trading higher today after releasing first-quarter 2026 earnings and raising its full-year profit outlook. The company posted Q1 GAAP diluted EPS of $3.11 and adjusted diluted EPS of $3.37, then lifted its 2026 guidance floor to GAAP diluted EPS greater than $2.37 and adjusted diluted EPS greater than $3.40. (investors.centene.com)

Management highlighted progress on margin recovery, pointing to a Medicaid health benefits ratio (HBR) of 93.1% with “tangible progress managing medical costs,” plus moderate flu impact. The Medicare segment posted an 84.9% HBR, with outperformance in both Medicare Advantage and prescription drug plans, while Commercial HBR was 75.3% and Marketplace pretax earnings were described as in line with expectations. (investors.centene.com)

Centene increased its 2026 premium and service revenue guidance range by $1.0 billion to $171.0B–$175.0B, citing Medicaid as the driver, and raised expected investment and other income by $50 million to $1.45B. The company also reduced debt by $1.0 billion during Q1, supported by operating cash flow of $4.4 billion. (investors.centene.com)

Investors will focus on whether Medicaid medical-cost control and Medicare performance persist beyond Q1 and whether the updated 2026 outlook holds as state-level payment dynamics and membership mix evolve. Additional color is expected from Centene’s earnings call scheduled for 8:30 a.m. ET today, which may clarify how much of the quarter reflected timing items versus repeatable operational improvement. (investors.centene.com)