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
Toys R Us Monday said it has voluntarily filed for chapter 11 bankruptcy protection in U.S. amid its struggles with outstanding debt and the shrinking sales due to increased online competition. The New Jersey-based toy retailer has still not recovered from a massive debt left from its $6.6 billion acquisition in 2005. You've already made so many great decisions if you are in position to retire. Don't blow the next big call: where to spend your golden years. The personal-finance website WalletHub conducted an in-depth analysis of retiree-friendliness of the 150 largest U.S. cities across 40 key metrics. Those... Many restaurants are luring customers with irresistible promotions on the occasion of National Cheeseburger Day on Monday, September 18. While Burger King is not offering any specific deal on a national level, several other restaurants are celebrating the day by offering sweet, lucrative deals.
comments powered by Disqus
Follow RTT