Centene Q2 adjusted EPS $2.10 beats prior year; raises full-year guidance to at least $6.45

CENTENE CORP

2023-Q2 EPS reported $3.96 revenue$76,497,000,000

GAAP diluted EPS $1.92; adjusted diluted EPS $2.10 (+18% vs $1.77 in Q2 2022).
Premium & service revenue $34.8B, up 3% YoY; total revenue $37.6B.
HBR 87.0% (up from 86.7%); adjusted SG&A ratio 8.6% (vs 8.2% YoY).
Raised FY2023 adjusted EPS guidance by $0.05 to at least $6.45; reaffirms FY2024 floor of >$6.60.
Repurchased 6.0M shares for $400M in Q2; additional 4.5M shares for $300M in July 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CENTENE CORP reported second quarter ended June 30, 2023 results: revenue $34.8 billion, net income Diluted EPS of $1.92, EPS Adjusted diluted EPS of $2.10. Guidance raised.

Period: second quarter ended June 30, 2023
Revenue: $34.8 billion
Net income: Diluted EPS of $1.92
EPS: Adjusted diluted EPS of $2.10
Guidance: raised
Result: reported results

Exact text from the filing

EPS of $2.10 -- -- Increases 2023 Full Year Guidance -- • Adjusted diluted EPS of $2.10, up over 18% from $1.77 in the second quarter of 2022. • Premium and service revenues of $34.8 billion in the second quarter of 2023. • Medicaid redeterminations progressing as expected. • Increases 2023 full year adjusted diluted EPS guidance by $0.05 to at least $6.45;

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Source: SEC EDGAR

accession 0001071739-23-000182

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