Centene Corporation Announces Q1 2024 Results and Raises Guidance

Details

The company reported diluted EPS of $2.16 and adjusted diluted EPS of $2.26, up over 7% from the first quarter of 2023. Centene increased its 2024 full-year adjusted diluted EPS guidance by $0.10 to greater than $6.80 and raised its full-year premium and service revenue guidance by $1.0 billion. Additionally, Centene saw a 41% increase in Marketplace membership compared to the first quarter of 2023. The company also detailed recent contract awards and community engagement efforts.

Items reported

Exhibits (1)

About Centene Corporation

Centene Corporation is a diversified healthcare enterprise providing a comprehensive range of managed care services to government-sponsored healthcare programs. Specializing in serving uninsured and underinsured populations, Centene offers health plans, benefits management, and other related services. It operates through two primary segments: Managed Care and Specialty Services. The Managed Care segment provides health plan coverage to individuals through Medicaid, Medicare Advantage, and the Health Insurance Marketplace, impacting millions of lives across the United States. Meanwhile, the Specialty Services segment enhances healthcare quality and affordability through offerings such as pharmacy solutions, behavioral health, and optometry services. Founded in 1984 and headquartered in St. Louis, Missouri, Centene plays a significant role in the healthcare sector by addressing accessibility and cost challenges, thereby shaping market trends and influencing policy developments. As a major participant in the managed care industry, Centene is crucial for promoting coordinated care and improving health outcomes for vulnerable populations.