Centene Corporation Q1 Profit Increases, beats estimates

(RTTNews) - Centene Corporation (CNC) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $1.13 billion, or $2.04 per share. This compares with $0.85 billion, or $1.44 per share, in last year's first quarter.

Excluding items, Centene Corporation reported adjusted earnings of $1.17 billion or $2.11 per share for the period.

Analysts on average had expected the company to earn $2.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.6% to $38.89 billion from $37.19 billion last year.

Centene Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $1.13 Bln. vs. $0.85 Bln. last year. -EPS (Q1): $2.04 vs. $1.44 last year. -Analyst Estimate: $2.10 -Revenue (Q1): $38.89 Bln vs. $37.19 Bln last year.

-Guidance: Full year EPS guidance: $6.40 Full year revenue guidance: $144.5 - $146.5 Bln