- Centene Corp (NYSE: CNC) has reported a Q4 FY22 adjusted EPS of $0.86, compared to $1.01 a year ago, slightly ahead of the consensus of $0.85.
- Sales increased 9% Y/Y to $35.56 billion, slightly beating the consensus of $35.41 billion.
- A health benefits ratio of 88.7% for the fourth quarter of 2022 represents an increase from 87.9% a year ago, primarily due to higher Medicaid utilization, higher flu costs, and increased investments in quality, partially offset by lower COVID testing and treatment costs.
- Managed care membership reached 27.06 million, +4.83% Y/Y.
- Related: Centene Agrees To Divest Magellan Specialty Health To Evolent Health.
- The cash flow provided by operations for 2022 was $6.3 billion, or 5.2 times net earnings.
- FY 2023 Guidance: Centene has increased the premium and service revenues guidance range by $2 billion to $131.5 billion-$133.5 billion.
- The company reiterates its 2023 adjusted diluted EPS guidance of $6.25 to $6.40, compared to the consensus of $6.36.
- Price Action: CNC shares are down 0.30% at $70.80 during the premarket session on the last check Tuesday.
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