Centene’s headcount has dropped 11.8% between the end of 2025 and the third quarter of 2026, down from 61,100 to 53,900 employees.
According to Centene’s Oct. 27 earnings report, severance costs resulting from enterprise optimization and contract exits were $276 million and enterprise optimization third-party vendor costs were $35 million for the third quarter.
Centene’s workforce has been undergoing substantial change in 2026. Throughout the year, executive leadership shifts have touched state health plan executives and the C-suite. The company confirmed in June that it offered a voluntary separation program to employees.
Centene reported a $71 million net loss for the third quarter, an improvement from a $6.6 billion net loss in the third quarter of 2025. Centene has brought in a profit of nearly $2.6 billion since the start of 2026.
Total revenue for the third quarter was $50.6 billion, up 1.9% from the same quarter in 2025. Premium and service revenue grew slightly from $44.9 billion in Q3 of 2025, reaching $45.1 billion in Q3 of 2026.
Centene boosted its 2026 adjusted diluted earnings-per-share guidance to more than $5.20 and increased its total revenue guidance to between $196.5 billion and $200.5 billion. The company’s premium and service revenue guidance for 2026 remains the same, ranging from $173 billion to $177 billion.
The company’s total at-risk membership dropped to 25.7 million from 28 million year over year. Marketplace membership was 3.4 million, down 41.6% year over year. In March, company executives said Centene expected to lose nearly 40% of its marketplace membership by the end of 2026. While Medicare prescription drug plan enrollment increased, Medicare members declined 5.8% from Q3 of 2025 to 954,400. Medicaid membership was 11.9 million, down 6.4% year over year.
Centene’s medical loss ratio was 92.7%, the same as the equivalent quarter in 2025. The commercial, Medicare and Medicaid ratios were 89%, 93.8% and 93.6%, respectively.
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