Centene Reports Guidance For 2023

(RTTNews) - Centene Corporation (CNC), as part of providing an update on its long-term strategic plan, designed to deliver long-term shareholder value, has announced its financial guidance for the fiscal year ending December 31, 2023.

For 2023, the company expects revenue to be in the range of $137.4 billion to $139.4 billion. Analysts polled by Thomson Reuters expect revenue of $144.46 billion in 2023.

Centene anticipates earnings per share to be in the range of $5.25 to $5.40 and adjusted earnings to be in range of $6.25 to $6.40 in 2023. Analysts have estimated earnings of $6.34 per share for 2023.

The company also reaffirmed its 2022 revenue guidance in the range of $142.7 to $144.7 billion and adjusted earnings per share outlook in the range of $5.65 to $5.75.

Wall Street analysts expects revenue of $144.56 billion and earnings of $5.74 per share in FY 2022

The company will report full year 2022 earnings on February 7, 2023, at 6:00 a.m. ET.

At September 30, 2022, the company had $32.4 billion in cash, investments and restricted deposits and maintained $436 million of cash and cash equivalents in our unregulated entities.

CNC has traded in a range of $73.19 to $98.53 in the last 52 weeks. The stock closed Thursdays's trading at $80.31, down 3.24%.