While reporting higher third-quarter results, healthcare insurer Centene Corp. (CNC) on Tuesday trimmed its adjusted earnings forecast for fiscal 2021, but raised revenue view.
In pre-market activity, Centene shares were losing around 4.2 percent to trade at $65.10.
For the year, the company now projects earnings per share between $1.87 and $1.93, and adjusted earnings per share between $5.05 and $5.15.
The company previously expected reported earnings per share between $1.82 and $2.06 and adjusted earnings per share between $5.05 and $5.35.
On average, eight analysts polled by Thomson Reuters expect earnings of $5.11 per share for the year on revenues of $125.06 billion. Analysts' estimates typically exclude special items.
Total revenues is now expected between $125.2 billion and $126.4 billion, higher than previous view of $123.3 billion to $125.3 billion.
Analysts expect revenues of $125.06 billion
The company's revenue guidance has been increased to reflect the acquisition of Circle Health, which is expected to be neutral to adjusted earnings per share in the first six months of ownership, and approximately $500 million of additional pass through payments.
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