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Centene (CNC)
NYSE:CNC
Holding CNC?
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Earnings Data
Report Date
Feb 04, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.51Last Year’s EPS
$0.45Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2024
|% Change Since: -3.31%
|Next Earnings Date:Feb 04, 2025
Earnings Call Sentiment|Positive
The call indicates strong financial performance and strategic progress in several areas such as EPS, Medicaid rate adjustments, Medicare Advantage, and Marketplace growth. However, challenges remain with Medicaid MLR pressures and state-specific rate adjustments.Company Guidance
During the Centene Corporation Q3 2024 earnings call, the executives provided guidance and shared several key financial metrics. The company reported a third-quarter adjusted diluted EPS of $1.62, surpassing prior expectations due to favorable timing shifts in tax benefits and Marketplace premium tax benefits. Centene reaffirmed its full-year 2024 adjusted diluted EPS guidance of greater than $6.80 and projected long-term EPS growth of 12% to 15% in a normalized environment. Medicaid membership was stable at roughly 13 million, with the HBR slightly elevated at 93.1%, while commercial and Medicare segments performed in line with expectations, showing an HBR of 80% and 88.0%, respectively. The company anticipates a composite Medicaid rate adjustment of 4.5% to 5% for the back half of the year and highlighted its strategic positioning for growth in 2025, with Medicare Advantage revenue projected between $14 billion and $16 billion. Centene's Marketplace business continues to thrive, with a membership of 4.5 million and anticipated pretax margins within the 5% to 7.5% range for 2025. Despite Medicaid rate-acuity mismatches, the company remains confident in its ability to navigate challenges, supported by strategic RFP wins and operational improvements.Strong Earnings Per Share Performance
Centene reported third quarter adjusted diluted EPS of $1.62, which was stronger than expected due to anticipated tax items shifting forward into the quarter.
Medicaid Rate Adjustments
Centene saw a back half composite adjustment rate of 4.5% to 5% for Medicaid, with all states acknowledging the need to match rates with acuity.
Medicare Advantage Strategic Progress
46% of members in plans at or above 3.5 stars, up from 23% the previous year, indicating progress in margin recovery.
Marketplace Growth
Centene grew Marketplace membership to 4.5 million, up 22% year-over-year, and expects to continue growth during the open enrollment period.
Successful RFP Wins
Centene successfully reprocured contracts in Pennsylvania, Iowa, and Michigan, indicating strong positioning for long-term Medicaid business growth.
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CNC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CNC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 25, 2024 | $61.62 | $64.22 | +4.22% |
| Jul 26, 2024 | $67.40 | $73.10 | +8.46% |
| Apr 26, 2024 | $75.68 | $74.00 | -2.22% |
| Feb 06, 2024 | $74.07 | $74.92 | +1.15% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Centene (CNC) report earnings?
Centene (CNC) is schdueled to report earning on Feb 04, 2025, Before Open Not Confirmed.
What is Centene (CNC) earnings time?
Centene (CNC) earnings time is at Feb 04, 2025, Before Open Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CNC EPS forecast?
CNC EPS forecast for the fiscal quarter 2024 (Q4) is $0.51.
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