Centene: Q2 Earnings Insights

Shares of Centene CNC were unchanged after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 47.92% over the past year to $1.25, which missed the estimate of $1.39.

Revenue of $31,025,000,000 rose by 11.96% year over year, which beat the estimate of $30,150,000,000.

Outlook

The upcoming fiscal year's EPS expected to be between $5.05 and $5.35.

The upcoming fiscal year's revenue expected to be between $123,300,000,000 and $125,300,000,000.

Details Of The Call

Date: Jul 27, 2021

Time: 08:30 AM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/982/41869

Technicals

Company's 52-week high was at $75.59

52-week low: $53.60

Price action over last quarter: Up 22.15%

Company Overview

Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges. After acquiring WellCare in early 2020, Centene now serves 21 million medical members, mostly in Medicaid (14 million), Medicare Advantage (1 million total), the individual exchanges (2 million), and other plans (4 million), including Tricare (West region), correctional facility, and international plans. The company also serves 4 million users through the Medicare Part D pharmaceutical program.