Drew, What Happened to the “Sustainable” 3.3% Margin?

I’m not sure why analysts continue treating each new Centene C-suite promise as if the last one was delivered.

In 2021, Centene told investors it was targeting a 3.3% adjusted net income margin, with the benefits of its margin-expansion plan expected to materialize in 2023 and 2024.

Drew Asher was specifically named as one of the executives driving it.

Here is what Centene actually delivered, using its own adjusted earnings and premium-and-service revenue:

2021: 2.58%
2022: 2.48%
2023: 2.60%
2024: 2.58%
2025: 0.59%

Four straight years of approximately 2.5%, followed by a collapse to 0.6%.

They didn’t briefly reach 3.3% and fail to sustain it. They never reached it at all.

Employees were reorganized, outsourced, offshored and RIF’d in the name of “margin.” Meanwhile, the executive specifically charged with delivering margin expansion missed Centene’s own target every single year.

Apparently, “accountability” is another expense Centene decided to eliminate.

Question to the Board: when does Drew get RIF’d???

Target:
https://filecache.investorroom.com/mr5ir_centene/114/CNC%20MS%20Conference_Final.pdf

Results:

https://investors.centene.com/2022-02-08-CENTENE-CORPORATION-REPORTS-2021-RESULTS

https://investors.centene.com/2023-02-07-CENTENE-CORPORATION-REPORTS-2022-RESULTS

https://investors.centene.com/2024-02-06-CENTENE-CORPORATION-REPORTS-2023-RESULTS

https://investors.centene.com/2025-02-04-CENTENE-CORPORATION-REPORTS-2024-RESULTS

https://investors.centene.com/2026-02-06-CENTENE-CORPORATION-REPORTS-2025-RESULTS-AND-ANNOUNCES-2026-GUIDANCE

#Accountability #CorporateStrategy #Performance #RIF

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10 replies (most recent on top)

@me and just linked that, Drew is gone.

And the stock is falling and showing overvalued.

Analysts and Wall Street bought the Q2 BS the company was slinging and we’ll most likely start to see a steady decline in price as the institutional investors start getting out.

I wonder if insiders start dumping soon? What an absolute sh-t show for one of the “most powerful women” who obviously doesn’t know how to lead in turbulent times, other than shovel employees overboard and throw money at consulting firms to fix her mess.

She’s gotta be next as far as who’s on the chopping block by the Board.

Here’s my free advice: Simplify Sarah.

It starts at the top. Centene has underperformed ever since Sarah London took the helm. This ship is sinking fast

Drew was the worst C suite person at WellCare and he’s the worst at Centene. I sat in legal in Tampa at WellCare, right next to the C suite people. He was the biggest je-k, except to attractive females. The rest were friendly and interacted, especially Ken Burdick. He was always friendly and kind.

@cs where’s Nick Shirley when you need him?

@cr “Good stewards of taxpayers’ money” my a-s. 😂

@c6 How do you track his jet ?

Soon. They eat their own.

Drew probably won't answer - he's likely too busy flying to the Cayman Islands. His plane sure likes that route, but he is likely getting RIF'd before its over, it will be the Colgate lady running the shop.

@OP Thank you and we'll said. We live in a world where folks like us continue to follow the rules and are held accountable. Then we have the Drew's!!! He and his fellow C Suite team have ruined this company. I doubt will survive in the long term.

He's too busy tak8ng the private jet. It's not called Drew's Plane for nothing

Thread regarding Centene Corp. layoffs

Drew, What Happened to the “Sustainable” 3.3% Margin?

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