Centene (CNC) Reports Earnings Tomorrow: What To Expect

Health coverage company Centene (NYSE:CNC) will be reporting earnings this Friday before market open. Here’s what you need to know.

Centene beat analysts’ revenue expectations by 8.3% last quarter, reporting revenues of $46.62 billion, up 15.4% year on year. It was a strong quarter for the company, with full-year revenue guidance exceeding analysts’ expectations and a solid beat of analysts’ EPS estimates. It lost -656,600 customers and ended up with a total of 27.94 million.

Is Centene a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Centene’s revenue to grow 9.6% year on year to $43.67 billion, improving from the 5.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Centene has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 7.1% on average.

Looking at Centene’s peers in the healthcare providers & services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Molina Healthcare delivered year-on-year revenue growth of 15.7%, beating analysts’ expectations by 4.4%, and Elevance Health reported revenues up 13.4%, topping estimates by 3%. Elevance Health traded down 19.7% following the results.

Read our full analysis of Molina Healthcare’s results here and Elevance Health’s results here.

Investors in the healthcare providers & services segment have had steady hands going into earnings, with share prices flat over the last month. Centene is down 46.1% during the same time and is heading into earnings with an average analyst price target of $52.38 (compared to the current share price of $29.14).

When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.

StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.