Shares of Centene fell 5.1% in morning trading after a year-over-year decline of over 2.1 million members overshadowed second-quarter results that beat analyst estimates and included a raised full-year profit forecast. The health insurer reported adjusted earnings per share of $2.51 and revenue of $53.58 billion, both significantly above expectations, and lifted its full-year adjusted profit guidance to $4.80 per share at the midpoint. However, total membership dropped to approximately 25.9 million, worrying investors about future growth. The stock later pared some losses to trade down 3% at $62.13.
Centene CorpMembership dropped by over 2.1 million members year-over-year, signaling weaker customer demand and future growth concerns.