Centene: 2Q Earnings Snapshot
ST LOUIS (AP) _ Centene Corp. (CNC) on Tuesday reported second-quarter net income of $300 million.
On a per-share basis, the St. Louis-based company said it had net income of $1.50. Earnings, adjusted for one-time gains and costs, came to $1.80 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.76 per share.
The healthcare company posted revenue of $14.18 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $13.88 billion.
Centene expects full-year earnings in the range of $6.80 to $7.16 per share, with revenue in the range of $59.2 billion to $60 billion.
Centene shares have climbed 35 percent since the beginning of the year. The stock has risen 61 percent in the last 12 months.