For the quarter ended September 2024, Centene (CNC) reported revenue of $42.02 billion, up 10.5% over the same period last year. EPS came in at $1.62, compared to $2.00 in the year-ago quarter. The reported revenue represents a surprise of +10.86% over the Zacks Consensus Estimate of $37.91 billion. With the consensus EPS estimate being $1.39, the EPS surprise was +16.55%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine t ...

Centene (CNC) came out with quarterly earnings of $1.62 per share, beating the Zacks Consensus Estimate of $1.39 per share. This compares to earnings of $2 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.55%. A quarter ago, it was expected that this healthcare company would post earnings of $2.44 per share when it actually produced earnings of $2.42, delivering a surprise of -0.82%.Over the last four quarters, the company h ...

Financial Performance - Centene Corporation reported third-quarter sales of $42.02 billion, a 10.5% increase year-over-year, surpassing the consensus estimate of $37.69 billion [1] - The company achieved an adjusted EPS of $1.62 for the quarter, exceeding the consensus of $1.38 [1] - Premium and service revenues for the third quarter increased by 6% to $36.9 billion, driven by Medicaid rate increases and membership growth in the Marketplace business [1] Membership and Market Position - Total managed care membership rose by 2.4% to 28.64 million at the end of the third quarter, compared to 27.97 million a year ago [2] - Enrollment in the commercial marketplace business grew to 4.50 million members from 3.68 million a year ago, while total Medicaid memberships fell by 14.2% to 13.07 million [2] Guidance and Future Outlook - The company updated its revenue guidance to $159 billion—$161 billion, up from the previous guidance of $155.0 billion—$157.0 billion [3] - The 2024 Health Benefits Ratio (HBR) is expected to be around 88.3%-88.5%, an increase from the high end of the previous guidance range [3] - Centene reaffirmed its 2024 adjusted EPS guidance floor of over $6.80, compared to a consensus of $6.82 [2][3] Stock Performance - Centene's stock (CNC) rose by 13.6% to $70.02 during the premarket session following the earnings report [3]

Centene reported a third quarter profit of $713 million as Obamacare enrollment and premium revenue ... [+] helped overcome a big dip in Medicaid enrollment, the company said October 25, 2024. In this photo, the building housing Centene Corporation headquarters is seen Thursday, July 2, 2015, in Clayton, Mo. (AP Photo/Jeff Roberson)ASSOCIATED PRESSCentene reported a third quarter profit of $713 million as Obamacare enrollment and premium revenue helped overcome a big dip in Medicaid enrollment.Centene, whic ...

Core Insights - Centene Corporation reported a diluted EPS of $1.36 and an adjusted diluted EPS of $1.62 for Q3 2024, reaffirming its adjusted diluted EPS guidance floor for 2024 to be greater than $6.80 [1][10] - The company achieved total revenues of $42.0 billion, with premium and service revenues reaching $36.9 billion, marking a 6% increase from the previous year [1][8] - Membership in the Marketplace increased by 22%, while Medicare Prescription Drug Plans saw a 49% rise compared to Q3 2023 [1][5] Financial Performance - Total revenues for Q3 2024 were $42,023 million, with premium and service revenues at $36,899 million [1] - The health benefits ratio (HBR) was 89.2%, up from 87.0% in Q3 2023, primarily due to higher acuity in Medicaid [8] - Selling, general and administrative (SG&A) expense ratio was 8.3%, a decrease from 8.7% in the same quarter last year [8] Membership Growth - Total at-risk membership reached 25,893,000, compared to 25,196,700 in the previous year [5] - Traditional Medicaid membership decreased to 11,478,600 from 13,470,900, while Medicare PDP membership increased to 6,766,400 from 4,539,800 [5] Revenue Breakdown - Medicaid revenues were $21,316 million, a slight decrease from $21,619 million in Q3 2023 [6] - Commercial revenues increased by 35% to $8,693 million, while Medicare revenues rose by 4% to $5,643 million [6][8] Operational Highlights - The company executed $1.2 billion in share repurchases during Q3 2024, with an additional $380 million in October, totaling $2.4 billion for the year [1][9] - Centene's effective tax rate for Q3 2024 was 22.9%, down from 38.2% in Q3 2023 [8] Strategic Developments - Centene's CEO highlighted the company's diversified portfolio and operational efficiencies as key factors in navigating a dynamic landscape [2] - The company made significant progress in Medicare Star Ratings, with 46% of its Medicare Advantage membership enrolled in plans rated 3.5 stars or higher, up from 23% the previous year [2] Future Outlook - The company updated its 2024 GAAP diluted EPS guidance floor to greater than $5.92 while reaffirming its adjusted diluted EPS guidance floor of greater than $6.80 [10] - Total revenues for the full year 2024 are projected to be between $159.0 billion and $161.0 billion [11]

Exhibit 99.1 N E W S R E L E A S E | --- | --- | |----------------------------------------------------------------------------------|---------------------------------------------------------------------| | | | | Investor Relations Inquiries | Media Inquiries | | Jennifer Gilligan | Isabella Wiltse | | Senior Vice President, Finance & Investor Relations (212) 549-1306 | Vice President, Media & Public Relations (314) 445-0790 | FOR IMMEDIATE RELEASE CENTENE CORPORATION REPORTS THIRD QUARTER 2024 RESULTS -- Di ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ___________________________________________ FORM 10-Q ____________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ ____________________________________________ Commiss ...

Core Viewpoint - Centene Corporation is expected to report a significant year-over-year decline in earnings and revenues for Q3 2024, with earnings estimated at $1.39 per share and revenues at $37.9 billion, reflecting a 30.5% drop in earnings and a 0.4% decrease in revenues compared to the previous year [1][2]. Group 1: Earnings and Revenue Estimates - The Zacks Consensus Estimate for Q3 earnings indicates a 30.5% year-over-year decline, while revenues are projected to decrease by 0.4% [2]. - The company has beaten consensus estimates in three of the last four quarters, with an average surprise of 9.6% [2]. - The Earnings ESP for Centene is -1.69%, and it holds a Zacks Rank of 4 (Sell), indicating uncertainty regarding an earnings beat this quarter [3]. Group 2: Membership and Premium Trends - Total commercial memberships are expected to increase by over 17% year-over-year, driven by growth in the commercial marketplace [4]. - Medicare PDP memberships are projected to grow nearly 47% from the previous year [4]. - Medicaid memberships are anticipated to decline by around 14% year-over-year, which is likely to negatively impact premiums [5]. Group 3: Cost and Profitability Factors - The Zacks Consensus Estimate for service revenues indicates a more than 24% decline from the previous year's $1.1 billion [6]. - Medical costs are expected to remain elevated due to the resumption of elective procedures, leading to a decline in profit margins, with the health benefits ratio estimated at 88.64%, up from 87% a year ago [6]. - Total operating expenses are estimated to decline by 0.2% year-over-year, while investment and other income is expected to grow over 97% from $214 million [7]. Group 4: Stock Performance and Valuation - Centene's stock has decreased by 17.7% year-to-date, underperforming the industry growth of 2.1% [8]. - The stock is currently trading at 8.45X forward 12-month earnings, below its five-year median of 11.71X and the industry's average of 15.89X, indicating a lack of investor confidence [10]. Group 5: Long-term Prospects and Challenges - Centene's diversified portfolio and expected growth in the commercial marketplace position it for long-term growth, supported by partnerships and acquisitions [12]. - Challenges include high debt levels and rising medical costs, which could impact the company's growth strategy [12]. - While the long-term outlook is promising, the current market conditions may not be favorable for new investments [13].

Centene (NYSE: CNC ) is an interesting stock and play in health insurance, with both age, tradition, and the sort of fundamentals that you'd really want to be focusing on if you were looking to invest in healthcare companies. It has revenues inAnalyst’s Disclosure: I/we have a beneficial long position in the shares of TLPFY either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seek ...

The upcoming report from Centene (CNC) is expected to reveal quarterly earnings of $1.39 per share, indicating a decline of 30.5% compared to the year-ago period. Analysts forecast revenues of $37.91 billion, representing a decrease of 0.4% year over year.The consensus EPS estimate for the quarter has been revised 11.3% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Ahead of a co ...