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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.
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 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