Centene Corporation Q3 Profit Decreases, but beats estimates

(RTTNews) - Centene Corporation (CNC) reported earnings for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $469 million, or $0.87 per share. This compares with $738 million, or $1.27 per share, in last year's third quarter.

Excluding items, Centene Corporation reported adjusted earnings of $1.08 billion or $2.00 per share for the period.

Analysts on average had expected the company to earn $1.57 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.0% to $38.04 billion from $35.87 billion last year.

Centene Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $469 Mln. vs. $738 Mln. last year. -EPS (Q3): $0.87 vs. $1.27 last year. -Analyst Estimates: $1.57 -Revenue (Q3): $38.04 Bln vs. $35.87 Bln last year.

-Guidance: Full year EPS guidance: $6.60 Full year revenue guidance: $149 - $151 Bln