Market Overview

UPDATE: Centene Q3 Profit Down 87%

Share:
Related CNC
Humana Story Adds $10 Billion In Market Value To Managed Healthcare Space
Health Insurers Rise On Humana Sale Rumor
Health Care Mutual Funds Top In May: Close Look At Two Winners (Investor's Business Daily)

Centene (NYSE: CNC) reported an 87% drop in its third-quarter earnings.

Centene lowered its full-year earnings forecast to $0.56 to $0.66 per share and lifted its revenue forecast to $8.1 billion to $8.3 billion

Centene's quarterly profit fell to $3.82 million, or $0.07 per share, from $28.99 million, or $0.55 per share, in the year-ago period. Excluding items, its adjusted earnings came in at $0.78 per share.

Its revenue gained 88% to $2.45 billion. However, analysts were expecting earnings of $0.47 per share on revenue of $2.23 billion.

Centene's medical costs rose 93%.

Centene shares closed at $38.41 yesterday.

Posted-In: profitEarnings News Guidance

 

Related Articles (CNC)

Around the Web, We're Loving...

Get Benzinga's Newsletters