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Centene (CNC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2024, Centene (CNC - Free Report) reported revenue of $39.84 billion, up 5.9% over the same period last year. EPS came in at $2.42, compared to $2.10 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $36.51 billion, representing a surprise of +9.10%. The company delivered an EPS surprise of -0.82%, with the consensus EPS estimate being $2.44.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Centene performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total Medical Health (Benefits) loss Ratios -Total Ratio (HBR): 87.6% versus the five-analyst average estimate of 87.3%.
Membership by line of business - Medicare PDP: 6,603.6 thousand compared to the 6,129.66 thousand average estimate based on three analysts.
Membership by line of business - Medicare: 1,138.4 thousand versus the three-analyst average estimate of 1,143.44 thousand.
Membership Medicaid - Traditional Medicaid: 11,640.9 thousand versus the three-analyst average estimate of 11,718.77 thousand.
Revenues- Premium: $35.14 billion versus the five-analyst average estimate of $33 billion. The reported number represents a year-over-year change of +4.2%.
Revenues- Service: $833 million versus the five-analyst average estimate of $838.94 million. The reported number represents a year-over-year change of -26%.
Revenues- Premium and service revenues: $35.97 billion versus the five-analyst average estimate of $33.84 billion. The reported number represents a year-over-year change of +3.3%.
Revenues- Premium tax: $3.86 billion compared to the $2.77 billion average estimate based on five analysts. The reported number represents a change of +39.5% year over year.
Revenues- Premium and service revenues- Medicaid: $20.25 billion versus the three-analyst average estimate of $19.41 billion. The reported number represents a year-over-year change of -7.5%.
Revenues- Premium and service revenues- Commercial: $8.54 billion compared to the $7.85 billion average estimate based on three analysts.
Revenues- Premium and service revenues- Medicare: $5.98 billion versus the three-analyst average estimate of $5.50 billion.
Revenues- Premium and service revenues- Other: $1.21 billion compared to the $1.27 billion average estimate based on two analysts. The reported number represents a change of -21.6% year over year.
Shares of Centene have remained unchanged over the past month versus the Zacks S&P 500 composite's -1.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Centene (CNC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2024, Centene (CNC - Free Report) reported revenue of $39.84 billion, up 5.9% over the same period last year. EPS came in at $2.42, compared to $2.10 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $36.51 billion, representing a surprise of +9.10%. The company delivered an EPS surprise of -0.82%, with the consensus EPS estimate being $2.44.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Centene performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total Medical Health (Benefits) loss Ratios -Total Ratio (HBR): 87.6% versus the five-analyst average estimate of 87.3%.
- Membership by line of business - Medicare PDP: 6,603.6 thousand compared to the 6,129.66 thousand average estimate based on three analysts.
- Membership by line of business - Medicare: 1,138.4 thousand versus the three-analyst average estimate of 1,143.44 thousand.
- Membership Medicaid - Traditional Medicaid: 11,640.9 thousand versus the three-analyst average estimate of 11,718.77 thousand.
- Revenues- Premium: $35.14 billion versus the five-analyst average estimate of $33 billion. The reported number represents a year-over-year change of +4.2%.
- Revenues- Service: $833 million versus the five-analyst average estimate of $838.94 million. The reported number represents a year-over-year change of -26%.
- Revenues- Premium and service revenues: $35.97 billion versus the five-analyst average estimate of $33.84 billion. The reported number represents a year-over-year change of +3.3%.
- Revenues- Premium tax: $3.86 billion compared to the $2.77 billion average estimate based on five analysts. The reported number represents a change of +39.5% year over year.
- Revenues- Premium and service revenues- Medicaid: $20.25 billion versus the three-analyst average estimate of $19.41 billion. The reported number represents a year-over-year change of -7.5%.
- Revenues- Premium and service revenues- Commercial: $8.54 billion compared to the $7.85 billion average estimate based on three analysts.
- Revenues- Premium and service revenues- Medicare: $5.98 billion versus the three-analyst average estimate of $5.50 billion.
- Revenues- Premium and service revenues- Other: $1.21 billion compared to the $1.27 billion average estimate based on two analysts. The reported number represents a change of -21.6% year over year.
View all Key Company Metrics for Centene here>>>Shares of Centene have remained unchanged over the past month versus the Zacks S&P 500 composite's -1.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.