Centene Corporation (NYSE: CNC) reported third-quarter 2019 adjusted earnings of $0.96 per share versus $0.95 per share expected.
Total revenues grew by 17% to $19 billion versus $18.43 billion expected. This was driven by the growth in the Health Insurance Marketplace business, expansions and new programs in many states, and its recent acquisitions in Spain.
As of September 30, 2019, managed care membership rose by 6% year-over-year to 15.3 million.
Looking ahead into 2019, the company now expects total revenues in the range of $73.6 billion to $74.2 billion, versus consensus estimates of $74.37 billion.
For 2019, GAAP earnings are predicted to be in the $3.04 to $3.21 per share range and adjusted earnings are anticipated to be between $4.29 and $4.49 per share. The market analysts expect earnings of $4.41 per share for the full year.
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