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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“be a differentiated partner for Prime and be a strategic partner for Centene.”
Cigna's Evernorth renewed/extended its PBM relationship with Centene, a large government-programs client, at improved (lower-margin for Cigna) economic terms.
“But that comment on Centene was primarily around Medicaid experience which is kind of major medical coverage.”
Globe Life management distinguishes its Medicare Supplement business from Centene's recent negative headlines on medical cost trends, which were driven by Centene's Medicaid book rather than a market-wide issue.
“One of them is also the state that Drew referenced that has made a move away from the single PBM model. And so as of 10/1, we'll be able to get them over to ESI and leverage our cost structure.”
Centene is shifting a state Medicaid plan's PBM business to Express Scripts (Cigna) to gain cost-structure leverage, a modest positive signal for Cigna's PBM volumes.
“This was based on data from Wakely, an independent actuarial firm that aggregates market growth and morbidity information on behalf of carriers on the individual marketplace.”
Centene relies on Wakely's actuarial data to size the Marketplace risk-adjustment shortfall and inform 2026 repricing, underscoring Wakely's role as a critical data vendor across the individual-marketplace insurer ecosystem.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Josh Raskin | Nephron Research | 6 (33%) |
| A.J. Rice | UBS | 6 (33%) |
| Steve Baxter | Wells Fargo |
| Justin Lake | Wolfe Research | 6 (17%) |
| Lance Wilkes | Bernstein | 6 (0%) |
| Andy Mok | Barclays | 6 (17%) |
| Sarah James | Cantor Fitzgerald | 5 (20%) |
| Dave Windley | Jefferies | 5 (0%) |
| Ann Hynes | Mizuho Securities | 5 (20%) |
| Kevin Fischbeck | Bank of America | 4 (25%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Bank of America | 3 | 6 (17%) |
| Barclays | 1 | 6 (17%) |
| Bernstein | 1 | 6 (0%) |
| Nephron Research | 1 | 6 (33%) |
| UBS | 1 | 6 (33%) |
| Wells Fargo | 1 | 6 (33%) |
| Wolfe Research | 1 | 6 (17%) |
| Cantor Fitzgerald | 1 | 5 (20%) |
Centene closed a difficult FY2025 with Q4 adjusted diluted loss of $1.19 per share and full-year premium and service revenue reaching $174.6 billion, while introducing FY2026 adjusted EPS guidance of greater than $3.00. Medicaid HBR continued its sequential improvement trajectory and Q4 HBR of 93% was consistent with expectations. The GAAP results were further distorted by a $389 million Magellan divestiture loss, and enhanced APTC expiration and marketplace contraction posed risks to the 2026 outlook.
Margin | Regulation Policy | Pricing | Subscriber Growth | Cost Pressure | Competitive Dynamics | Guidance Reliability | Demand | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 5 | 1 | 5 | 2 | 4 | 2 | |
| 2025Q1 | 7 | 7 | 3 | 5 | 4 | 1 | 2 | |
| 2025Q2 | 5 | 5 | 2 | 2 | 3 | 2 | 2 | 1 |
| 2025Q3 | 5 | 3 | 4 | 2 | 1 | 4 | 1 | |
| 2025Q4 | 5 | 3 | 4 | 3 | 3 | 3 | 1 | |
| 2026Q1 | 4 | 4 | 5 | 1 | 4 | 2 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Margin | 4 | 7 | 5 | 5 | 5 | 4 |
| Regulation Policy | 5 | 7 | 5 | 3 | 3 | 4 |
| Pricing | 1 | 3 | 2 | 4 | 4 | 5 |
| Subscriber Growth | 5 | 5 | 2 | 2 | 3 | 1 |
| Cost Pressure | 4 | 3 | 1 | 3 | 4 | |
| Competitive Dynamics | 2 | 2 | 4 | 3 | 2 | |
| Guidance Reliability | 4 | 1 | 2 | 1 | 1 | 3 |
| Demand | 2 | 2 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CNC Centene Corporation | 9 | +7.1% | |
| CI Cigna | 8 | +4.6% | |
| CVS CVS Health | 9 | +6.2% | |
| ELV Elevance Health | 7 | +2.6% | |
| HUM Humana | 7 | +23.5% | |
| UNH UnitedHealth Group Incorporated | 7 | +2.0% |