Centene: Q2 Earnings Insights

Shares of Centene CNC decreased 2.1% after the company reported Q2 results.

Quarterly Results

Earnings per share were up 79.10% year over year to $2.40, which missed the estimate of $2.43.

Revenue of $27,712,000,000 rose by 50.97% from the same period last year, which beat the estimate of $27,580,000,000.

Guidance

The upcoming fiscal year's EPS expected to be between $4.76 and $4.96.

The upcoming fiscal year's revenue expected to be between $109,000,000,000 and $111,400,000,000.

Conference Call Details

Date: Jul 28, 2020

Time: 08:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/ata8gdbd

Technicals

Company's 52-week high was at $74.70

52-week low: $41.62

Price action over last quarter: Up 1.53%

Company Overview

Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges. After acquiring WellCare in early 2020, Centene serves about 24 million members, mostly in Medicaid (12 million), Medicare (5 million total, including 4 million in Part D plans and 1 million in Medicare Advantage), the individual exchanges (2 million), and other plans (5 million), including Tricare (West region), correctional facility, and international plans.