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Centene (CNC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2023, Centene (CNC - Free Report) reported revenue of $38.89 billion, up 4.6% over the same period last year. EPS came in at $2.11, compared to $1.83 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $36.31 billion, representing a surprise of +7.11%. The company delivered an EPS surprise of -5.38%, with the consensus EPS estimate being $2.23.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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% compared to the 86.76% average estimate based on five analysts.
Membership by line of business - Medicare PDP: 4459.3 thousand versus the three-analyst average estimate of 4312.66 thousand.
Membership by line of business - Medicaid: 16322.3 thousand versus 16223.23 thousand estimated by three analysts on average.
Membership Medicaid - Traditional Medicaid: 14521.1 thousand versus 14498.85 thousand estimated by three analysts on average.
Membership Medicaid - High Acuity Medicaid: 1801.2 thousand versus the three-analyst average estimate of 1724.38 thousand.
Membership - Commercial: 3530.8 thousand versus the three-analyst average estimate of 2514.79 thousand.
Membership by line of business - Medicare: 1343.8 thousand compared to the 1439.62 thousand average estimate based on three analysts.
Revenues- Premium: $33.83 billion versus the six-analyst average estimate of $33.10 billion. The reported number represents a year-over-year change of +6.1%.
Revenues- Service: $1.13 billion compared to the $816.09 million average estimate based on six analysts. The reported number represents a change of -51.9% year over year.
Revenues- Premium and service revenues: $34.95 billion versus $33.92 billion estimated by six analysts on average.
Investment and other income: $353 million compared to the $216 million average estimate based on five analysts.
Shares of Centene have returned +4.5% over the past month versus the Zacks S&P 500 composite's +4.3% 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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Centene (CNC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2023, Centene (CNC - Free Report) reported revenue of $38.89 billion, up 4.6% over the same period last year. EPS came in at $2.11, compared to $1.83 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $36.31 billion, representing a surprise of +7.11%. The company delivered an EPS surprise of -5.38%, with the consensus EPS estimate being $2.23.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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% compared to the 86.76% average estimate based on five analysts.
- Membership by line of business - Medicare PDP: 4459.3 thousand versus the three-analyst average estimate of 4312.66 thousand.
- Membership by line of business - Medicaid: 16322.3 thousand versus 16223.23 thousand estimated by three analysts on average.
- Membership Medicaid - Traditional Medicaid: 14521.1 thousand versus 14498.85 thousand estimated by three analysts on average.
- Membership Medicaid - High Acuity Medicaid: 1801.2 thousand versus the three-analyst average estimate of 1724.38 thousand.
- Membership - Commercial: 3530.8 thousand versus the three-analyst average estimate of 2514.79 thousand.
- Membership by line of business - Medicare: 1343.8 thousand compared to the 1439.62 thousand average estimate based on three analysts.
- Revenues- Premium: $33.83 billion versus the six-analyst average estimate of $33.10 billion. The reported number represents a year-over-year change of +6.1%.
- Revenues- Service: $1.13 billion compared to the $816.09 million average estimate based on six analysts. The reported number represents a change of -51.9% year over year.
- Revenues- Premium and service revenues: $34.95 billion versus $33.92 billion estimated by six analysts on average.
- Investment and other income: $353 million compared to the $216 million average estimate based on five analysts.
View all Key Company Metrics for Centene here>>>Shares of Centene have returned +4.5% over the past month versus the Zacks S&P 500 composite's +4.3% 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.