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Have you been eager to see how Centene Corporation (CNC - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this popular global professional services company’s earnings release this morning.
An Earnings Beat
Centene came out with operating earnings of $1.80 per share, which beat the Zacks Consensus Estimate of $1.76.
Centene has a decent earnings surprise history. The company delivered positive surprises in each of the last four quarters, with an average beat of 6.62%.
Revenue Came In a Bit Higher than Expected
Centene posted revenues of $14.2 billion, which was higher than the Zacks Consensus Estimate of $13.9 million.
Key Q2 Statistics
Managed care membership was 12.8 million on Jun 30, 2018, up 5% year over year.
Health benefits ratio (HBR) was 85.7% in the second quarter of 2018, compared to 86.3% in the prior year quarter.
Adjusted SG&A expense ratio came at 9.6% for the second quarter of 2018, compared to 9.3% in the year-ago quarter.
Operating cash outflow was $526 million in the second quarter of 2018.
2018 Guidance Revised
For 2018, Centene expects adjusted earnings per diluted share to be in the range of $6.80 - $7.16, as against the previously guided range of $6.75 - $7.15.
Total revenues are expected to be in the range of $59.2 billion to $60 billion, up from the previous guidance of $58.2 billion to $59 billion.
What Zacks Rank Says
Centene carries a Zacks Rank #3 (Hold). However, since the latest earnings performance yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Centene earnings report!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Centene (CNC) Q2 Earnings, Revenues Beat Estimates, Rise Y/Y
Have you been eager to see how Centene Corporation (CNC - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this popular global professional services company’s earnings release this morning.
An Earnings Beat
Centene came out with operating earnings of $1.80 per share, which beat the Zacks Consensus Estimate of $1.76.
Centene Corporation Price and EPS Surprise
Centene Corporation Price and EPS Surprise | Centene Corporation Quote
Earnings Surprise History
Centene has a decent earnings surprise history. The company delivered positive surprises in each of the last four quarters, with an average beat of 6.62%.
Revenue Came In a Bit Higher than Expected
Centene posted revenues of $14.2 billion, which was higher than the Zacks Consensus Estimate of $13.9 million.
Key Q2 Statistics
Managed care membership was 12.8 million on Jun 30, 2018, up 5% year over year.
Health benefits ratio (HBR) was 85.7% in the second quarter of 2018, compared to 86.3% in the prior year quarter.
Adjusted SG&A expense ratio came at 9.6% for the second quarter of 2018, compared to 9.3% in the year-ago quarter.
Operating cash outflow was $526 million in the second quarter of 2018.
2018 Guidance Revised
For 2018, Centene expects adjusted earnings per diluted share to be in the range of $6.80 - $7.16, as against the previously guided range of $6.75 - $7.15.
Total revenues are expected to be in the range of $59.2 billion to $60 billion, up from the previous guidance of $58.2 billion to $59 billion.
What Zacks Rank Says
Centene carries a Zacks Rank #3 (Hold). However, since the latest earnings performance yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Check back later for our full write up on this Centene earnings report!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>