On Thursday, Centene Corporation CNC outlined its 2025 financial guidance.
U.S. health insurer Centene forecast a better-than-expected profit for 2025 on Thursday, betting on the strength of its commercial plans to neutralize higher costs in its government-backed health plans.
The killing of UnitedHealthcare CEO Brian Thompson spurred big Medicaid insurer Centene to hold a virtual investor day instead of an in-person event at the New York Stock Exchange. Other major health companies, including UnitedHealthcare's parent company United Health Group, removed photos of executives and board members from their websites.
Investors can see insider buys as an overall net positive concerning the longer-term outlook for a stock.
CNC's Q3 results benefit from growth in premiums, driven by strong product positioning. Despite higher revenues, declines in Medicaid membership and increased expenses weigh on profitability.
Durable Orders More or Less in Line With Expectations.
Centene (CNC) shares surged more than 10% Friday morning as the managed care and health insurance provider's third-quarter results easily beat estimates as it boosted its membership rolls and premium and service revenue.
Centene Corporation (NYSE:CNC ) Q3 2024 Earnings Conference Call October 25, 2024 8:30 AM ET Company Participants Jennifer Gilligan - Senior Vice President, Finance and Investor Relations Sarah London - Chief Executive Officer Andrew Asher - Executive Vice President and Chief Financial Officer Conference Call Participants Stephen Baxter - Wells Fargo Josh Raskin - Nefron Research A.J. Rice - UBS Justin Lake - Wolfe Research Sarah James - Cantor Fitzgerald Andrew Mok - Barclays Lance Wilkes - Bernstein Adam Ron - Bank of America Scott Fidel - Stephens Michael Ha - Baird David Windley - Jefferies Operator Good day, and welcome to the Centene Corporation Third Quarter Results Conference Call.
We don't expect much directional impetus in the stock market until after the presidential election is decided.
While the top- and bottom-line numbers for Centene (CNC) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Centene (CNC) came out with quarterly earnings of $1.62 per share, beating the Zacks Consensus Estimate of $1.39 per share. This compares to earnings of $2 per share a year ago.
On Friday, Centene Corporation CNC third-quarter sales of $42.02 billion, up 10.5% year-over-year, beating the consensus of $37.69 billion.