UPDATE 2-Centene quarterly profit hit by WellCare merger costs; bullish on 2020 growth [Reuters (UK)]
Centene Corporation (CNC)
Last centene corporation earnings: 4/28 06:00 am
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Source: Reuters
Centene quarterly profit hit by WellCare merger costs; bullish on 2020 growth - Reuters 3 Min Read (Reuters) - Centene Corp ( CNC.N ) on Tuesday missed quarterly profit estimates largely due to higher expenses related to the acquisition of WellCare Health Plans Inc, but reiterated its full-year profit forecast and raised sales target for the year. The U.S. health insurer last year made a $15.27 billion deal to buy smaller rival WellCare Health to bulk up its government-backed Medicare and Medicaid businesses while reducing exposure to Obamacare exchanges. The deal closed in January. The costs related to the mid-quarter merger were not factored into Street estimates, BMO Capital Markets analyst Matthew Borsch said alluding to Centene missing estimates. Centene’s health benefits ratio, the amount it spends on medical claims versus its income from premiums, worsened to 88% in the first quarter from 85.7% a year earlier. Analysts had expected a ratio of 86.1%, according to Refinitiv IBE
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CNC
Earnings
- 10/29/25 - Beat
CNC
Sec Filings
- 12/4/25 - Form 144
- 12/3/25 - Form 144
- 11/10/25 - Form 8-K
- CNC's page on the SEC website