Centene Says It Is Positioned To Capture Long-Term Growth In Government-Sponsored Healthcare, Lifts Annual Outlook

On Friday, Centene Corporation (NYSE:CNC) third-quarter sales of $42.02 billion, up 10.5% year-over-year, beating the consensus of $37.69 billion.

Centene earned an adjusted EPS of $1.62 during the quarter, beating the consensus of $1.38.

For the third quarter of 2024, premium and service revenues increased 6% to $36.9 billion, primarily driven by Medicaid rate increases and membership growth in the Marketplace business due to strong product positioning and overall market growth, partially offset by lower Medicaid membership primarily due to redeterminations and recent divestitures in the Other segment.

The Health benefits ratio (HBR) reached 89.2% for the third quarter, up from 87.0% a year ago, primarily driven by higher acuity in Medicaid ...