Centene Expects To Report Q2 GAAP EPS Of $2.16 And Adjusted EPS Of $2.42 (Est $1.96), Inclusive Of 2023 Risk Adjustment Outperformance
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Centene expects to report Q2 GAAP EPS of $2.16 and adjusted EPS of $2.42, surpassing estimates of $1.96. The Centers for Medicare and Medicaid Services published the final risk adjustment transfers for the 2023 benefit year, resulting in a $0.0 billion receivable for Centene. As of March 31, 2024, Centene had recorded a $1.3 billion 2023 risk adjustment payable on its balance sheet.
July 23, 2024 | 10:14 am
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Centene expects to report Q2 GAAP EPS of $2.16 and adjusted EPS of $2.42, surpassing estimates of $1.96. The final risk adjustment transfers for 2023 resulted in a $0.0 billion receivable for Centene. As of March 31, 2024, Centene had recorded a $1.3 billion 2023 risk adjustment payable on its balance sheet.
Centene's expected Q2 earnings surpassing estimates is a positive indicator for the stock. The final risk adjustment transfers for 2023, resulting in a $0.0 billion receivable, and the recorded $1.3 billion payable as of March 31, 2024, provide clarity on the company's financial position, likely boosting investor confidence.
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