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Compared to Estimates, Centene (CNC) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, Centene (CNC - Free Report) reported revenue of $40.41 billion, up 3.9% over the same period last year. EPS came in at $2.26, compared to $2.11 in the year-ago quarter.
The reported revenue represents a surprise of +10.97% over the Zacks Consensus Estimate of $36.41 billion. With the consensus EPS estimate being $2.09, the EPS surprise was +8.13%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Centene performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total Medical Health (Benefits) loss Ratios -Total Ratio (HBR): 87.1% versus the five-analyst average estimate of 87.1%.
Membership Medicaid - High Acuity Medicaid: 1,547.6 thousand versus the three-analyst average estimate of 1,737.68 thousand.
Membership by line of business - Medicaid: 13,297.6 thousand versus 13,589.05 thousand estimated by three analysts on average.
SG&A Expense Ratio: 8.9% versus 8.7% estimated by three analysts on average.
Revenues- Premium and service revenues: $36.34 billion versus the five-analyst average estimate of $34.07 billion. The reported number represents a year-over-year change of +4%.
Revenues- Premium: $35.53 billion versus $33.07 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5% change.
Revenues- Service: $808 million versus the five-analyst average estimate of $993.85 million. The reported number represents a year-over-year change of -28.3%.
Revenues- Premium tax: $4.07 billion versus the five-analyst average estimate of $2.52 billion.
Revenues- Premium and service revenues- Commercial: $7.75 billion versus $7.89 billion estimated by three analysts on average.
Revenues- Premium and service revenues- Medicare: $5.94 billion compared to the $5.31 billion average estimate based on three analysts.
Revenues- Premium and service revenues- Medicaid: $21.46 billion versus the three-analyst average estimate of $20.75 billion. The reported number represents a year-over-year change of -3.5%.
Revenues- Premium and service revenues- Other: $1.19 billion versus the two-analyst average estimate of $1.42 billion. The reported number represents a year-over-year change of -25.4%.
Shares of Centene have returned -3.6% over the past month versus the Zacks S&P 500 composite's -3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Centene (CNC) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, Centene (CNC - Free Report) reported revenue of $40.41 billion, up 3.9% over the same period last year. EPS came in at $2.26, compared to $2.11 in the year-ago quarter.
The reported revenue represents a surprise of +10.97% over the Zacks Consensus Estimate of $36.41 billion. With the consensus EPS estimate being $2.09, the EPS surprise was +8.13%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Centene performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total Medical Health (Benefits) loss Ratios -Total Ratio (HBR): 87.1% versus the five-analyst average estimate of 87.1%.
- Membership Medicaid - High Acuity Medicaid: 1,547.6 thousand versus the three-analyst average estimate of 1,737.68 thousand.
- Membership by line of business - Medicaid: 13,297.6 thousand versus 13,589.05 thousand estimated by three analysts on average.
- SG&A Expense Ratio: 8.9% versus 8.7% estimated by three analysts on average.
- Revenues- Premium and service revenues: $36.34 billion versus the five-analyst average estimate of $34.07 billion. The reported number represents a year-over-year change of +4%.
- Revenues- Premium: $35.53 billion versus $33.07 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5% change.
- Revenues- Service: $808 million versus the five-analyst average estimate of $993.85 million. The reported number represents a year-over-year change of -28.3%.
- Revenues- Premium tax: $4.07 billion versus the five-analyst average estimate of $2.52 billion.
- Revenues- Premium and service revenues- Commercial: $7.75 billion versus $7.89 billion estimated by three analysts on average.
- Revenues- Premium and service revenues- Medicare: $5.94 billion compared to the $5.31 billion average estimate based on three analysts.
- Revenues- Premium and service revenues- Medicaid: $21.46 billion versus the three-analyst average estimate of $20.75 billion. The reported number represents a year-over-year change of -3.5%.
- Revenues- Premium and service revenues- Other: $1.19 billion versus the two-analyst average estimate of $1.42 billion. The reported number represents a year-over-year change of -25.4%.
View all Key Company Metrics for Centene here>>>Shares of Centene have returned -3.6% over the past month versus the Zacks S&P 500 composite's -3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.