Health Insurer Centene's Q2 Premium Revenue Cushions Fall In Medicaid Enrollment, Raises Annual Outlook
Portfolio Pulse from Vandana Singh
Centene Corporation (NYSE:CNC) reported strong Q2 results with sales of $39.84 billion, beating expectations. Despite a fall in Medicaid enrollment, premium and service revenues rose by 3%. The company raised its annual revenue guidance and reaffirmed its EPS guidance. Centene's stock rose 4.39% following the announcement.
July 26, 2024 | 1:45 pm
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Centene Corporation reported strong Q2 results with sales of $39.84 billion, beating expectations. Despite a fall in Medicaid enrollment, premium and service revenues rose by 3%. The company raised its annual revenue guidance and reaffirmed its EPS guidance. Centene's stock rose 4.39% following the announcement.
Centene's strong Q2 performance, increased revenue guidance, and reaffirmed EPS guidance are positive indicators for the company's short-term stock price. The market reacted favorably, with the stock rising 4.39%.
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IMPORTANCE 90
RELEVANCE 100