Centene Q4 2024 Earnings Report
Key Takeaways
Centene Corporation announced its Q4 and full year 2024 financial results. The company reported Q4 total revenues of $40.805 billion and GAAP diluted EPS of $0.56. Despite industry headwinds, Centene demonstrated operational improvements and delivered on its financial commitments.
2024 adjusted diluted EPS of $7.17, up 7% from $6.68 in 2023.
Membership increases of 12% in Marketplace and 50% in Medicare PDP, compared to the fourth quarter of 2023.
Executed on capital deployment with $3.0 billion of share repurchases in 2024.
Increased 2025 premium and service revenues guidance by $4.0 billion driven by Medicaid revenue and better than expected membership performance during the annual enrollment period in Medicare Advantage and PDP.
Centene
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Centene Revenue by Segment
Forward Guidance
The Company is increasing its 2025 premium and service revenues guidance range by $4.0 billion to a range of $158.0 billion to $160.0 billion. The Company reiterates its 2025 GAAP diluted EPS guidance floor of greater than $6.19 and its 2025 adjusted diluted EPS guidance floor of greater than $7.25.
Positive Outlook
- outperformance in our PDP annual enrollment resulting in an additional $1.5 billion premium revenue
- outperformance in our Medicare Advantage annual enrollment resulting in $1.0 billion of additional premium revenue
- $1.5 billion of additional Medicaid premium revenue due to a program change adding behavioral health coverage in one of our state contracts
- 2025 GAAP diluted EPS guidance floor of greater than $6.19
- 2025 adjusted diluted EPS guidance floor of greater than $7.25