Centene Q2 2024 adjusted EPS $2.42 (+15% YoY); reaffirms FY adj. EPS floor >$6.80

CENTENE CORP

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

Adjusted diluted EPS $2.42, up 15% from $2.10 in Q2 2023; GAAP diluted EPS $2.16.
Premium and service revenues $36.0B (+3% YoY); Marketplace membership up 34% to 4.4M; Medicaid membership down to 13.1M.
HBR 87.6% vs 87.0% YoY, driven by higher Medicaid acuity; FY HBR expected at high end ~87.9%.
Raises FY premium and service revenue guidance to $141-143B (up $5B); reaffirms adj. diluted EPS floor >$6.80.
Agreed to sell Collaborative Health Systems to Astrana Health (close by end 2024); repurchased 10.7M shares for $800M in Q2.

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