logo
Share SHARE
FONT-SIZE Plus   Neg

Centene Corp Q1 Net Income Slips; Revises FY 2012 Guidance - Quick Facts

Centene Corp. (CNC) Tuesday reported net ear nings of $23.97 million for the first quarter of fiscal 2012, flat with net earnings of $23.74 million reported for the coerresponding first quarter of last year.

Earnings per diluted share for the first quarter of 2012 declined to $0.45 from $0.46 per diluted share reported for the year-ago quarter.

Commenting on the results, Michael F. Neidorff, Chairman and Chief Executive Officer, stated, "While underlying trend remains predictable, results were mixed due to seasonality of medical costs particularly in March, continued high medical costs in Kentucky, and general and administrative costs at higher levels associated with an additional 370,000 members in Texas…"

Seventeen analysts polled by Thomson Reuters estimated earnings of $0.49 per share for the first quarter. Analysts' estimates usually exclude special items.

Total Revenue for the first quarter increased to $1.71 billion from $1.22 billion reported for the year-ago quarter. Of the total revenues, , premium revenues were $1.64 billion in this quarter compared with $1.15 billion in the corresponding quarter last year.

Nine analysts polled by Thomson Reuters estimated revenues of $1.64 billion for the first quarter.

Looking ahead for full year 2012, the company has revised its Earnings outlook and now expects EPS in the range between $2.64 to $2.84 from its earlier guidance range between $2.60 to $2.80 per share.

The company has also revised its Revenue guidance for 2012 upwards and now expects Revenue to range between $7.70 billion and $8.10 billion from its earlkier guidance range between $7.20 billion to - $7.60 billion.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walt Disney Co. (DIS) is reportedly in talks to buy a stake in Major League Baseball Advanced Media. According to LA Times, citing people with knowledge of the matter, Disney is seeking to acquire one-third interest in the MLB.com, which develops and manages the league's digital products. The deal... Postal Savings Bank of China, one of the biggest banks in China, seeks to raise about $8 billion in an initial public offering, which could be the biggest IPO of the year. Postal Savings Bank of China plans to list its stock in the Hong Kong stock exchange. According to reports, the Postal Savings... Sporting goods retailer Dick's Sporting Goods, Inc. has emerged as the successful bidder in the bankruptcy auction for its former rival Sports Authority Holding Inc.'s intellectual property assets and the right to acquire 31 store leases.
comments powered by Disqus
Follow RTT