Categories Earnings, Health Care

Earnings Summary: Highlights of Centene Corp’s Q4 2023 financial results

Healthcare service provider Centene Corporation (NYSE: CNC) on Tuesday announced fourth-quarter 2023 results, reporting an increase in revenues and a fall in adjusted earnings.

  • Fourth-quarter revenue increased to $39.46 billion from $35.56 billion in the prior year quarter
  • Premium and Service revenues moved up 5% to $35.3 billion in Q4 from $33.6 billion in the comparable period of 2022
  • Net income was $45 million or $0.08 per share in Q4, compared to a loss of $213 million or $0.38 per share last year
  • Adjusted earnings declined to $0.45 per share in the fourth quarter from $0.86 per share in the same period last year
  • The health benefits ratio was 89.5%, representing an increase from 88.7% in the year-ago period
  • The company generated cash flow from operations of $217 million for the December quarter
  • As of December 31, 2023, Centene had cash, investments, and restricted deposits of $37.3 billion
  • During the quarter, the Company repurchased 397 thousand shares for $27 million
  • The management raised its 2024 Premium & Service revenue guidance by $2.5 billion to $134.5-$137.5 billion

Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.

Most Popular

Home Depot (HD) Q4 2023 Earnings: Key financials and quarterly highlights

Home Depot (NYSE: HD) reported fourth quarter 2023 earnings results today. Sales were $34.8 billion, down 2.9% from the same quarter a year ago. Comparable sales decreased 3.5%.  Net earnings were $2.8

Nvidia (NVDA) is set to report Q4 2024 results. Here is what to expect

Nvidia Corporation (NASDAQ: NVDA) has emerged as the frontrunner in providing cutting-edge solutions to enterprises for ramping up their generative AI deployments. The chipmaker is thriving on the rapid transition

Hasbro vs. Mattel: Here’s how these toymakers fared in Q4 2023

Leading toymakers Hasbro, Inc. (NASDAQ: HAS) and Mattel, Inc. (NASDAQ: MAT) reported their fourth quarter 2023 earnings results this month. Both companies performed differently, with Hasbro coming out of a

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top