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Jun 30, 2024
Centene Q2 2024 Earnings Report
Centene's financial results for the second quarter of 2024 were announced, featuring a diluted EPS of $2.16 and an adjusted diluted EPS of $2.42.
Key Takeaways
Centene Corporation reported a 3% increase in premium and service revenues, reaching $36.0 billion, and an adjusted diluted EPS of $2.42, a 15% increase from Q2 2023. The company reaffirms its 2024 adjusted diluted EPS guidance floor of greater than $6.80. While Medicaid faces challenges, overall performance remains on track.
Adjusted diluted EPS of $2.42, up 15% from $2.10 in the second quarter of 2023.
Premium and service revenues of $36.0 billion in the second quarter of 2024.
Membership increase of 34% in Marketplace, compared to the second quarter of 2023.
Reaffirms 2024 Adjusted Diluted EPS Guidance Floor of Greater Than $6.80
Revenue by Segment
Forward Guidance
The Company reaffirms its 2024 GAAP diluted EPS guidance floor of greater than $5.94 and its 2024 adjusted diluted EPS guidance floor of greater than $6.80. The Company is increasing its 2024 premium and service revenues guidance range by $5.0 billion to a range of $141.0 billion to $143.0 billion to reflect an additional $2.0 billion Commercial premium revenue, $2.0 billion Medicare premium revenue and $1.0 billion Medicaid premium revenue. The Company's total revenue guidance has been updated to $155.0 billion to $157.0 billion. Additionally, the 2024 HBR is expected to be at the high end of the previous guidance range, approximately 87.9%.
Positive Outlook
- Reaffirms 2024 GAAP diluted EPS guidance floor of greater than $5.94
- Reaffirms 2024 adjusted diluted EPS guidance floor of greater than $6.80
- Increases 2024 premium and service revenues guidance range by $5.0 billion to a range of $141.0 billion to $143.0 billion
- Reflects an additional $2.0 billion Commercial premium revenue
- Reflects an additional $2.0 billion Medicare premium revenue
Challenges Ahead
- 2024 HBR is expected to be at the high end of the previous guidance range, approximately 87.9%.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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