Centene Corporation (CNC) reported an increase in earnings for the second quarter compared to the same period last year, surpassing analysts' expectations.
The company's net income for the quarter was $1.146 billion, or $2.16 per share, up from $1.058 billion, or $1.92 per share, in the previous year's second quarter.
Adjusting for special items, Centene's earnings amounted to $1.283 billion, or $2.42 per share.
According to data from Thomson Reuters, analysts had anticipated earnings of $2.07 per share on average, excluding special items.
The company's quarterly revenue also saw a 5.9% increase, reaching $39.836 billion, compared to $37.608 billion in the same period last year.
Summary of Centene Corporation's second-quarter performance (GAAP):
- Earnings: $1.146 billion, up from $1.058 billion in the previous year.
- Earnings per Share (EPS): $2.16, compared to $1.92 last year.
- Revenue: $39.836 billion, rising from $37.608 billion last year.
**Guidance**:
- Full-year EPS guidance: $6.80
- Full-year revenue guidance: $141.0 - $143.0 billion
