UPDATE: Centene Posts Upbeat Q4 Earnings, Announces 2-for-1 Stock Split

reported better-than-expected fourth-quarter earnings. The St. Louis, Missouri-based company posted a quarterly profit of $107 million, or $1.76 per share, compared to $53 million, or $0.93 per share, in the year-ago period. Excluding certain items, the company earned $1.74 per share. Its revenue climbed 61% to $4.73 billion. However, analysts were expecting earnings of $1.69 per share on revenue of $4.61 billion. For the quarter, Premium and Service revenue rose 54% to $4.4 billion from $2.9 billion. Operating cash flow for the quarter was $369 million. Centene announced a 2-for-1 stock split. At December 31, 2014, Centene had cash, investments and restricted deposits of $3.1 billion. Michael F. Neidorff, Centene's Chairman and Chief Executive Officer, stated, "By any measure, 2014 was a significant year in the history of Centene. Membership grew by 1.2 million lives, revenue by almost 50%, and EPS by 55%. We are more diversified by product and geography - including our entry into the international market. We look forward to continued progress in 2015 and beyond." For the full year, Centene projects earnings of $5.05 to $5.35 per share. Centene shares fell 0.11% to close at $109.04 yesterday.