Centene books $0.7B net risk adjustment gain; prelim Q2 adj. EPS $2.42

CENTENE CORP

2024-Q2 EPS reported $4.32 revenue$80,243,000,000

CMS final 2023 risk adjustment receivable $0.0B vs. Centene's $1.3B net payable recorded.
Net outperformance of $0.7B from final risk adjustment recorded in Q2 2024.
Preliminary Q2 2024 GAAP diluted EPS $2.16; adjusted diluted EPS $2.42.
Full-year 2024 guidance reaffirmed: GAAP EPS >$5.94, adjusted EPS >$6.80.
Minimum MLR payable to increase ~$0.1B in H2 2024; net 2024 outperformance est. $0.6B.

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