Centene Updates 2018 Guidance – Quick Facts

Centene Corp. (CNC) announced, for 2018, the company now expects: adjusted EPS in the range of $6.80 to $7.16; and total revenues of $59.2 to $60.0 billion. In April, the company projected full year adjusted EPS in the range of $6.75 – $7.15, and revenue in a range of $58.2 – $59.0 billion.

Adjusted EPS for the second quarter of 2018 of $1.80, compared to $1.59 for the second quarter of 2017. For the second quarter of 2018, total revenues increased 19% to $14.2 billion, from $12.0 billion in the comparable period in 2017. The company said the increase over prior year was due to growth in the Health Insurance Marketplace business in 2018, acquisitions, expansions and new programs in many of its states in 2017 and 2018, and the reinstatement of the health insurer fee in 2018.

Michael Neidorff, Centene’s CEO, stated, “Centene’s strong fundamentals will be enhanced by the strategic and financial benefits of our recently closed Fidelis Care acquisition.”

by RTTNews Staff Writer

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