Centene Increases 2024 Guidance

(RTTNews) - Centene (CNC) updated 2024 EPS guidance floor to greater than $5.94 and 2024 adjusted EPS guidance floor to greater than $6.80. Total revenues are projected in a range of $147.5 billion to $150.5 billion. Analysts polled by Thomson Reuters expect the company to report profit per share of $6.77 on revenue of $146.51 billion. Analysts' estimates typically exclude special items.

First quarter earnings totaled $1.16 billion, or $2.16 per share compared with $1.13 billion, or $2.04 per share, in last year's first quarter. Excluding items, Centene reported adjusted earnings of $1.22 billion or $2.26 per share for the period. Analysts on average had expected the company to earn $2.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.9% to $40.41 billion from $38.89 billion last year.

Shares of Centene are up 3% in pre-market trade on Friday.

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