Centene Profits Hit $1B In Q2, Raises 2023 Earnings Forecast Citing Medicaid Growth
Portfolio Pulse from Vandana Singh
Healthcare company Centene Corporation (NYSE:CNC) reported Q2 profits of $1 billion for 2023, driven by increased enrollment. The company's adjusted EPS was $2.10, up from $1.77 a year ago, beating the consensus of $2.05. Sales increased to $37.61 billion from $35.94 billion, beating the consensus of $36.04 billion. Centene raised its full-year earnings forecast to at least $6.45 per share from at least $6.40. The company also increased its 2023 premium and services revenue forecast range by $1.8 billion. However, CNC shares are down 0.64% at $69.50 during the premarket session on the last check Friday.
July 28, 2023 | 3:56 pm
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Centene Corporation reported strong Q2 results and raised its full-year earnings forecast. However, its shares are down in premarket trading.
Centene Corporation reported strong Q2 results and raised its full-year earnings forecast, which would typically be expected to have a positive impact on the stock. However, the stock is down in premarket trading, suggesting that the market may have already priced in the positive news or there may be other factors at play affecting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100