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Mar 31, 2023
Centene Q1 2023 Earnings Report
Centene reported strong first quarter results, driven by positive operational momentum and disciplined execution against its strategic framework.
Key Takeaways
Centene Corporation announced strong first quarter results with premium and service revenues of $35.0 billion. Diluted EPS was $2.04, and adjusted diluted EPS was $2.11. The company increased its 2023 full year adjusted EPS guidance to at least $6.40 and updated its 2024 adjusted EPS target to greater than $6.60.
Increased 2023 full year Adjusted EPS guidance to at least $6.40 driven by strong performance in its market leading Medicaid and Marketplace businesses.
Premium and service revenues of $35.0 billion in the first quarter of 2023.
Health benefits ratio of 87.0% in the first quarter of 2023, driven by continued disciplined Marketplace pricing and favorable Medicare performance.
Updates the 2024 Adjusted EPS target to greater than $6.60, reflecting an updated view of Medicaid redeterminations, Medicare bid strategy, and business investments, to be further discussed on the earnings call.
Revenue by Segment
Forward Guidance
The Company's updated annual guidance for 2023 is as follows and will be discussed further on our conference call:
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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