Centene sees robust 2024 on commercial insurance business boost [Reuters]
Centene Corporation (CNC)
Last centene corporation earnings: 4/28 06:00 am
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Source: Reuters
The health insurer also posted an over 35% jump in its commercial memberships, sending the shares of the company up 4.4% in premarket trade. Centene has been trying to bolster membership in its profit-yielding private plans for individuals and families as it struggles with high attrition in its government-run Medicaid plans that are intended for lower income groups. Members in its Medicaid plans have declined after government measures that kept them enrolled during the COVID-19 pandemic were revoked. Total Medicaid memberships fell over 18% to 13.3 million in the first quarter for Centene. The company's revenue and profit "grew faster than anticipated" due to a rise in membership in the company's more profitable individual plans, Morningstar analyst Julie Utterback said. The insurer earned $7.75 billion in revenue from its commercial plans in the first quarter, up 48% from a year earlier, while memberships in the plans rose to 4.77 million from 3.53 million. Centene's qua
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CNC
Earnings
- 4/26/24 - Beat
CNC
Sec Filings
- 4/29/24 - Form 4
- 4/26/24 - Form 10-Q
- 4/26/24 - Form 8-K
- CNC's page on the SEC website