Although the revenue and EPS for Centene (CNC) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Robust Marketplace Growth and Strategic Expansions Underpin Performance
Centene Corp raised its annual profit forecast and beat Wall Street estimates for first-quarter profit on Friday, helped by higher premiums from its commercial insurance business. An over 35% jump in memberships in commercial plans, private health insurance offerings for individuals and families, helped cushion the impact from a drop in Medicaid plan members. Health insurers, especially Centene, have seen a decline in Medicaid memberships intended for people with limited income after many who had signed up under COVID-related relief measures were deemed ineligible in April last year when the pandemic ended.