Centene Corporation Q3 Earnings: Insights into Healthcare Growth and Financial Performance
Friday, 25 October 2024, 12:58
Centene Corporation Q3 Earnings Overview
Centene Corporation (NYSE: CNC), a key player in the healthcare and pharmaceuticals sector, announced its Q3 2024 earnings results today.
Financial Highlights
- Total Revenues: $42.02 billion, up from $38.04 billion a year earlier.
- Adjusted Earnings: Declined 19% year-over-year to $1.62 per share.
- Premium and Service Revenues increased to $36.9 billion, representing a 6% rise.
- Memberships in the Marketplace grew by 22%.
- Health Benefits Ratio rose to 89.2%, compared to 87.0% last year.
- Operating cash flow used was $978 million.
- Share repurchase of 16.3 million shares for $1.2 billion.
Future Outlook
Management anticipates full-year EPS to exceed $5.92 and adjusted EPS greater than $6.80, indicating strong confidence in future earnings despite current challenges.
Impact on Centene Corporation's Stock
The results provide crucial insights into Centene Corporation's performance, potentially influencing its stock price and investor sentiment in the healthcare market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.