FX.co ★ Centene Corporation Q1 Profit Increases, beats estimates

Centene Corporation (CNC) recently announced first-quarter earnings that not only showed an increase from the previous year but also exceeded Wall Street expectations.

The healthcare company reported earnings of $1.16 billion, equivalent to $2.16 per share, an improvement from the $1.13 billion, or $2.04 per share, recorded in the first quarter of last year.

When accounting for special items, Centene Corporation's adjusted earnings rose to $1.22 billion or $2.26 per share for the quarter. Predictions from analysts had averagely placed the company's earnings at $2.08 per share, as per data gathered by Thomson Reuters, but these estimations generally do not factor in special items.

In terms of revenue, the company experienced a 3.9% rise in this year's first quarter, with figures reaching $40.41 billion, up from $38.89 billion during the same period last year.

Here's a snapshot of Centene Corporation's performance (as per GAAP):

- Earnings for Q1 2022: $1.16 billion, compared to $1.13 billion in Q1 2021.

- Earnings per share (EPS) for Q1 2022: $2.16, compared to $2.04 in Q1 2021.

- Revenue for Q1 2022: $40.41 billion, compared to $38.89 billion in Q1 2021.

Regarding the company's outlook, the full-year EPS is guided to be approximately $6.80, while the revenue for the full year is projected to be between $147.5 billion and $150.5 billion.