Centene Says It Is Positioned To Capture Long-Term Growth In Government-Sponsored Healthcare, Lifts Annual Outlook
Portfolio Pulse from Vandana Singh
Centene Corporation reported strong third-quarter results with sales of $42.02 billion, a 10.5% increase year-over-year, and an adjusted EPS of $1.62, both beating consensus estimates. The company raised its annual revenue guidance and reaffirmed its EPS guidance, highlighting growth in government-sponsored healthcare. Centene's stock rose 13.6% in premarket trading.
October 25, 2024 | 12:04 pm
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Centene Corporation reported a 10.5% increase in Q3 sales to $42.02 billion, beating expectations. The company raised its annual revenue guidance and reaffirmed its EPS guidance, indicating strong growth in government-sponsored healthcare. CNC stock rose 13.6% in premarket trading.
Centene's strong Q3 performance, with sales and EPS exceeding expectations, and the raised revenue guidance suggest positive investor sentiment. The stock's 13.6% premarket rise reflects this optimism. The company's focus on government-sponsored healthcare and growth in its marketplace business further support a positive outlook.
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