Centene — Jul 28, 2026 release

The Company is increasing total revenues guidance range by $6.0 billion to a range of $193.5 billion to $197.5 billion driven by premium tax revenue, Marketplace, and Medicaid. The Company is increasing premium and service revenues guidance range by $2.0 billion to a range of $173.0 billion to $177.0 billion driven by Marketplace and Medicaid. The Company is also increasing its investment and other income expectation by $50 million to $1.50 billion. The Company is updating its 2026 GAAP diluted EPS guidance floor to greater than $3.11 and its 2026 adjusted diluted EPS guidance floor to greater than $4.80. 3 The Company's annual guidance for 2026 is as follows and will be discussed further on our conference call: Full Year 2026 GAAP diluted EPS > $3.11 Adjusted diluted EPS (1) > $4.80 (1) A full reconciliation of adjusted diluted EPS is shown in the Non-GAAP Financial Presentation section of this release. Full Year 2026   Low High  Total revenues (in billions) $ 193.5  $ 197.5  Premium and service revenues (in billions) $ 173.0  $ 177.0  HBR 90.5  % 91.3  % SG&A expense ratio 7.2  % 7.8  % Adjusted SG&A expense ratio (2) 6.9  % 7.5  % Effective tax rate 26.5  % 27.5  % Adjusted effective tax rate (3) 25.5  % 26.5  % Diluted shares outstanding (in millions) 497.0  500.0  (2) Adjusted SG&A expense ratio excludes severance costs due to enterprise optimization and contract exits of approximately $355 million to $405 million, enterprise optimization third-party vendor costs of approximately