2024

Strong

Fortune

Billion

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">Centene Corporation (NYSE: CNC), a Fortune 500 company and leader in healthcare services, has recently announced its<a aria-label=" financial results (opens in a new tab)" href="https://investors.centene.com/2024-02-06-CENTENE-CORPORATION-REPORTS-2023-RESULTS" target="_blank" rel="noreferrer noopener nofollow" class="deco-link"> financial results</a> for the fourth quarter and the full year of 2023, marking significant achievements and setting a confident tone for 2024. </p> 
<h3 id="centene-corporation-reports-39-46b-in-revenue-for-q4">Centene Corporation Reports $39.46B in Revenue for Q4</h3> 
<p>In the last quarter of 2023, Centene Corporation reported robust revenues of $39.46 billion, with premium and service revenues at $35.34 billion. The health benefits ratio, a key measure of the company’s medical costs as a percentage of premium revenues, was recorded at 89.5%. <br><br>The selling, general, and administrative (SG&amp;A) expense ratio, another critical metric indicating the efficiency of operations, was slightly higher at 9.9% on a GAAP basis and adjusted to 9.7%. Despite these figures, the adjusted diluted EPS for Q4 came in at $0.45, showcasing the company’s ability to manage costs and optimize operations effectively.</p> 
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<h3 id="cnc-outperforms-expectations-in-q4">CNC Outperforms Expectations in Q4</h3> 
<p>When juxtaposed with market expectations, Centene’s performance in the latest quarter presents a mixed picture. The company’s earnings per share (<a href="https://tokenist.com/investing/fundamental-analysis-stocks/" rel="dofollow" class="deco-link">EPS</a>) of $0.45 slightly outperformed the anticipated $0.42, underscoring a prudent management approach and operational efficiency. However, the reported revenue of $39.46 billion also surpassed the expected $36.18 billion, highlighting Centene’s ability to generate higher revenue streams and maintain a strong competitive stance in the healthcare sector.</p> 
<h3 id="cnc-increases-2024-guidance-by-2-5-billion">CNC Increases 2024 Guidance by $2.5 Billion</h3> 
<p>Looking ahead, Centene is optimistic about its future trajectory. The company has increased its 2024 premium and service revenues guidance by $2.5 billion, reflecting confidence in its growth strategy and market opportunities. The reiterated floor for 2024 adjusted diluted EPS of more than $6.70 signifies Centene’s belief in its operational strength and the effectiveness of its strategic initiatives. These forward-looking statements suggest a focus on expanding core businesses, leveraging strategic partnerships, and continuing to drive cost-efficiency across operations.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/centene-cnc-raises-2024-guidance-by-2-5-billion-signaling-strong-growth-outlook/">Centene (CNC) Raises 2024 Guidance by $2.5 Billion, Signaling Strong Growth Outlook</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Centene (CNC) Raises 2024 Guidance by $2.5 Billion, Signaling Strong Growth Outlook

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