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Jun 30, 2021
Centene Q2 2021 Earnings Report
Centene reported solid second-quarter results with adjusted diluted EPS of $1.25 and total revenues of $31.0 billion.
Key Takeaways
Centene Corporation announced its financial results for the second quarter ended June 30, 2021, reporting a diluted loss per share of $(0.92) and adjusted diluted earnings per share (EPS) of $1.25. Total revenues for the quarter were $31.0 billion, representing a 12% increase compared to the second quarter of 2020.
Managed care membership reached 25.4 million, a 3% increase compared to June 30, 2020.
Total revenues increased by 12% to $31.0 billion compared to the second quarter of 2020.
Health benefits ratio (HBR) was 88.3% for the second quarter of 2021, compared to 82.1% in the second quarter of 2020.
Operating cash flow was $1.7 billion for the second quarter 2021.
Centene
Centene
Centene Revenue by Segment
Revenue by Segment
Medicaid Revenue
CapyFin.comCommercial Revenue
CapyFin.comMedicare Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The Company's updated guidance for full year 2021 includes total revenues between $123.3 billion and $125.3 billion, GAAP diluted EPS between $1.82 and $2.06, and adjusted diluted EPS between $5.05 and $5.35.
Positive Outlook
- Total revenues (in billions): $123.3 - $125.3
- GAAP diluted EPS: $1.82 - $2.06
- Adjusted diluted EPS: $5.05 - $5.35
- HBR: 87.5% - 88.1%
- Effective tax rate: 32.5% - 34.5%
Challenges Ahead
- SG&A expense ratio: 8.3% - 8.7%
- Adjusted SG&A expense ratio: 8.0% - 8.4%
- Adjusted effective tax rate: 24.3% - 26.3%
- Diluted shares outstanding (in millions): 589.0 - 592.0
- We have not included the pending Magellan acquisition, recently completed related financing, or the recent acquisition of the remaining interest of Circle Health, in our current guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income