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4-Traders Homepage  >  Equities  >  Nyse  >  Centene Corp    CNC

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Centene : earnings, revenue rise on increased membership

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04/26/2017 | 04:37am CEST

April 25--Centene Corp. said it provided health care services to 605,000 more members during the first quarter compared to last year.

That 5 percent increase in membership contributed to a 69 percent increase in revenue, which reached $11.7 billion in the quarter that ended March 31.

The increase in members included those who buy individual health insurance coverage through HealthCare.gov exchanges.

Centene's core business is covering Medicaid beneficiaries by contracting with states, but the Clayton-based company covers nearly 1.2 million individuals via the online exchanges.

That's one-tenth of the 12 million Americans who buy health insurance through the exchanges.

Even as some insurers are pulling back from the exchanges, Centene Chief Executive Michael Neidorff said he sees "nothing out there" that will change his company's participation.

"We have the agility and the ability to adjust," he said Tuesday during a conference call.

Earnings attributable to the company increased to $139 million, or 79 cents a share, compared with a $16 million loss a year earlier.

Centene also raised its full-year earnings guidance to between $4.50 and $4.90 a share. Previously, it had estimated 2017 earnings of $4.40 to $4.85 a share.

Centene shares gained 2 percent Tuesday to close at $73.45.

The Associated Press contributed to this report.

___

(c)2017 the St. Louis Post-Dispatch

Visit the St. Louis Post-Dispatch at www.stltoday.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2017 46 532 M
EBIT 2017 1 456 M
Net income 2017 730 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 18,11
P/E ratio 2018 15,59
Capi. / Sales 2017 0,27x
Capi. / Sales 2018 0,25x
Capitalization 12 648 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 81,6 $
Spread / Average Target 11%
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Managers
NameTitle
Michael F. Neidorff Chairman, President & Chief Executive Officer
Jeffrey A. Schwaneke Chief Financial Officer & Executive Vice President
Ken Yamaguchi Chief Medical Officer & Executive Vice President
Mark J. Brooks Chief Information Officer & Senior Vice President
David L. Steward Independent Class II Director
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