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Sep 30, 2022
Centene Q3 2022 Earnings Report
Centene's Q3 2022 financial results were announced, featuring an 11% increase in total revenues and diluted EPS of $1.27.
Key Takeaways
Centene Corporation reported strong third-quarter results, with total revenues up 11% year-over-year, driven by organic Medicaid and Medicare growth. The company raised its full-year adjusted diluted EPS guidance for the fourth time in 2022. The selection of a new PBM partner was a key milestone in the Value Creation Plan.
Total revenues increased by 11% compared to the third quarter of 2021, driven by organic Medicaid and Medicare growth.
The health benefits ratio (HBR) was 88.3%, supported by strong Medicare results and consistent performance from Medicaid and Commercial segments.
The Value Creation Plan is progressing, with margin improvements, capital deployment initiatives, and the award of a new PBM contract.
Full-year adjusted diluted EPS guidance was raised for the fourth time in 2022, reaching a range of $5.65 to $5.75.
Revenue by Segment
Forward Guidance
The Company's guidance has been updated to increase the bottom of the adjusted EPS range by $0.05. In addition, the guidance metrics also now include the third quarter impairment of assets associated with the pending divestiture of the Spanish and Central European businesses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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