Centene Q1 adjusted EPS $2.26 beats; raises FY2024 guidance to >$6.80

CENTENE CORP

2024-Q1 EPS reported $2.16 revenue$40,407,000,000

GAAP diluted EPS $2.16; adjusted diluted EPS $2.26 (+7% YoY); premium & service revenues $36.3B (+4% YoY).
Marketplace membership up 41% YoY to 4.35M; total Medicaid membership down 18.5% YoY due to redeterminations.
Raises FY2024 adjusted diluted EPS guidance by $0.10 to >$6.80; premium & service revenue guidance up $1.0B to $135.5-138.5B.
Q1 cash flow used in operations $456M; repurchased $51M in Q1 and $200M in April; $5.0B remaining buyback authorization.
Oklahoma Complete Health started SoonerSelect contracts; Florida intends award to Sunshine Health; Michigan selects Meridian.

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 the first quarter ended March 31, 2024 results: revenue Total revenues (in millions) $ 40,407, EPS GAAP diluted EPS $ 2.16. Guidance raised.

Period: the first quarter ended March 31, 2024
Revenue: Total revenues (in millions) $ 40,407
EPS: GAAP diluted EPS $ 2.16
Guidance: raised
Result: reported results

Exact text from the filing

announced today its financial results for the first quarter ended March 31, 2024. In summary, the 2024 first quarter results were as follows: Total revenues (in millions) $ 40,407 Premium and service revenues (in millions) $ 36,337 Health benefits ratio 87.1 % SG&A expense ratio 8.9 % Adjusted SG&A expense ratio (1) 8.7 % GAAP diluted EPS $ 2.16 Adjusted

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Source: SEC EDGAR

accession 0001071739-24-000098

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