NEW YORK - Centene Corporation (NYSE:CNC) reported fourth-quarter earnings that surpassed analyst expectations, while also raising its 2025 revenue guidance.
Centene posted adjusted earnings per share of $0.80 for the fourth quarter, exceeding the analyst consensus of $0.51 by $0.29. Revenue for the quarter came in at $40.81 billion, beating the estimated $39.28 billion.
The health insurer’s performance was driven by strong membership growth in its Marketplace and Medicare Prescription Drug Plan (PDP) segments. The company’s premium and service revenues increased 3% YoY to $36.3 billion, primarily due to Medicaid rate increases and Marketplace membership growth.
For the full year 2024, Centene reported adjusted diluted EPS of $7.17, up 7% from $6.68 in 2023. The company saw significant membership increases of 12% in Marketplace and 50% in Medicare PDP compared to the fourth quarter of 2023.
"Our strong fourth-quarter results reflect the continued execution of our strategy and the dedication of our team," said Sarah London, CEO of Centene. "We are well-positioned for sustainable growth as we enter 2025."
Looking ahead, Centene raised its 2025 premium and service revenues guidance by $4.0 billion to a range of $158.0 billion to $160.0 billion. However, the company’s 2025 EPS guidance of at least $7.25 falls slightly below the analyst consensus of $7.32.
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