earnings
confidence high
sentiment positive
materiality 0.80
Centene Q3 adjusted EPS $1.62, revenue $36.9B, reaffirms FY24 adjusted EPS guidance >$6.80
CENTENE CORP
2024-Q3 EPS reported
$5.69
revenue$122,266,000,000
- Adjusted diluted EPS of $1.62; GAAP EPS $1.36. Premium + service revenue $36.9B (+6% YoY).
- Marketplace membership +22% YoY; Medicare PDP +49% YoY; Medicaid membership declined 14% on redeterminations.
- Reaffirmed FY24 adjusted diluted EPS guidance >$6.80; updated GAAP guidance >$5.92.
- Share repurchases $1.2B in Q3 and $380M in Oct; $2.8B remaining under authorization.
- Medicare Stars: 46% of MA members in 3.5+ star plans (from ~23%); contract wins in MI, CA, IA, PA, FL.