Centene Announces Preliminary Q2 2024 Financial Results

Details

The company expects to report GAAP diluted EPS of $2.16 and adjusted diluted EPS of $2.42 for Q2 2024, impacted by the outperformance of the 2023 risk adjustment results. As of March 31, 2024, Centene had recorded a $1.3 billion 2023 risk adjustment payable, net on the Consolidated Balance Sheet. The company expects to reaffirm its 2024 full year GAAP diluted EPS guidance floor of greater than $5.94 and adjusted diluted EPS guidance floor of greater than $6.80 on its upcoming earnings call on July 26, 2024.

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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.