Centene: 2Q Earnings Snapshot
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.