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Centene: 2Q Earnings Snapshot

July 23, 2019

ST LOUIS (AP) _ Centene Corp. (CNC) on Tuesday reported second-quarter earnings of $495 million.

On a per-share basis, the St. Louis-based company said it had net income of $1.18. Earnings, adjusted for one-time gains and costs, came to $1.34 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.

The healthcare company posted revenue of $18.36 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $18.01 billion.

Centene expects full-year earnings in the range of $4.29 to $4.49 per share, with revenue in the range of $73.6 billion to $74.2 billion.

Centene shares have dropped 9.5% since the beginning of the year. The stock has declined 23% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CNC at https://www.zacks.com/ap/CNC

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