Loading...
•
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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...