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CENTENE Corporation Centene Corporation Reports Second Quarter 2021 Results July 27 , 2021 Diluted Loss Per Share of $ ( 0.92 ) ; Adjusted Diluted EPS of $ 1.25 -- ST . LOUIS , July 27 , 2021 / PRNewswire / -- Centene Corporation ( NYSE : CNC ) announced today its financial results for the second quarter ended June 30 , 2021 , reporting diluted loss per share of $ ( 0.92 ) and adjusted diluted earnings per share ( EPS ) of $ 1.25 . In summary , the 2021 second quarter results were as follows : Total revenues ( in millions ) Health benefits ratio SG & A expense ratio Adjusted SG & A expense ratio ( 1 ) GAAP diluted loss per share $ LA LA LA $ $ 31,025 Adjusted diluted EPS ( 1 ) Total cash flow provided by operations ( in millions ) ( 1 ) A full reconciliation of the adjusted SG & A expense ratio and adjusted diluted EPS is shown on page 6 of this release . $ Other Events 88.3 % 7.9 % 7.7 % ( 0.92 ) 1.25 1,685 " Centene delivered solid second - quarter results as we continued to support our members with high quality service and deliver value to state and local partners . We have seen near - term pressures in our Marketplace business where utilization continues to trend above baseline , and we are monitoring COVID variants closely as the pandemic continues to evolve . Our scale and diversification provide a solid foundation to execute through this environment as we focus on implementing various initiatives to deliver on our stated margin goals , " said Michael F. Neidorff , Chairman , President and Chief Executive Officer of Centene . Second Quarter Highlights • June 30 , 2021 managed care membership of 25.4 million , an increase of 0.8 million members , or 3 % , compared to June 30 , 2020 . • Total revenues of $ 31.0 billion for the second quarter of 2021 , representing 12 % growth compared to the second quarter of 2020 . • Health benefits ratio ( HBR ) of 88.3 % for the second quarter of 2021 , compared to 82.1 % in the second quarter of 2020 . • Selling , general and administrative ( SG & A ) expense ratio of 7.9 % for the second quarter of 2021 , compared to 8.8 % for the second quarter of 2020 . • Adjusted SG & A expense ratio of 7.7 % for the second quarter of 2021 , compared to 8.5 % for the second quarter of 2020 . • Diluted loss per share for the second quarter of 2021 of $ ( 0.92 ) , compared to diluted EPS of $ 2.05 for the second quarter of 2020. During the second quarter of 2021 , Centene recorded a legal settlement reserve estimate of $ 1.25 billion ( inclusive of the Ohio and Mississippi settlements ) , or $ 1.78 per diluted share . • Adjusted diluted EPS for the second quarter of 2021 of $ 1.25 , compared to $ 2.40 for the second quarter of 2020 . ● Operating cash flow of $ 1.7 billion for the second quarter 2021 . • In July 2021 , Centene issued $ 1.8 billion 2.45 % Senior Notes due 2028. The Company intends to use the net proceeds from the offering of the Notes to finance a portion of the cash consideration payable in connection with its previously announced acquisition of Magellan Health Inc. ( Magellan ) and to pay related fees and expenses . • In July 2021 , Centene commenced operations under a new statewide contract in North Carolina providing Medicaid managed care services and began operating under a new contract to provide Medicaid managed care services in three regions in North Carolina through its North Carolina joint venture , Carolina Complete Health . • In July 2021 , Centene began operating under a statewide contract in Hawaii to continue administering covered services to eligible Medicaid and Children's Health Insurance Program ( CHIP ) members and a statewide contract to continue administering services through the Community Care Services program . • In July 2021 , Centene acquired the remaining interest in our equity method investment in Circle Health , the U.K.'s largest independent operator of hospitals . • In June 2021 , Centene reached no - fault agreements with the Attorney General of Ohio and with the Attorney General and State Auditor of Mississippi to resolve claims and / or allegations made by the states related to services provided by Envolve Pharmacy Solutions , Inc. ( Envolve ) , as Centene's pharmacy benefits manager subsidiary . Under the terms of these agreements , Centene will pay $ 88 million to Ohio and $ 55 million to Mississippi . The practices described in the settlements