Centene Corporation shares are trading lower after the company reported Q2 financial results and issued FY23 adjusted EPS guidance and reiterated FY24 adjusted EPS guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Centene Corporation reported its Q2 financial results and issued FY23 adjusted EPS guidance below estimates. The company also reiterated its FY24 adjusted EPS guidance, which is also below estimates.
July 28, 2023 | 3:34 pm
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NEGATIVE IMPACT
Centene Corporation's Q2 financial results and future EPS guidance, both below estimates, may negatively impact the company's stock price.
Companies that report earnings or provide future guidance below estimates typically see a negative reaction in their stock price as this may indicate potential future profitability issues. Therefore, Centene Corporation's stock price may be negatively impacted in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100