Centene Q2 2022 Earnings Report
Key Takeaways
Centene Corporation's second quarter results showed a 16% increase in total revenues driven by organic Medicaid and Medicare growth. The company increased its full-year adjusted diluted EPS guidance by $0.05 to a range of $5.60 to $5.75. The diluted loss per share was $(0.29), impacted by a real estate impairment charge. Execution of the Value Creation Plan continued through real estate optimization, divestitures, and share repurchases.
Total revenues increased 16% year-over-year, driven by organic Medicaid and Medicare growth.
Health benefits ratio (HBR) was 86.7%, largely driven by Marketplace performance.
The Value Creation Plan was executed through real estate optimization, divestitures, and share repurchases.
2022 full-year adjusted diluted EPS guidance was increased by another $0.05 (to a range of $5.60 to $5.75).
Centene
Centene
Centene Revenue by Segment
Forward Guidance
The Company's guidance has been updated to reflect the sale of PANTHERx and corresponding gain along with real estate optimization impairment charges. The Company's guidance does not reflect the effects of the pending divestitures of Magellan Rx or its Spanish and Central European businesses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income