Centene Raises FY22 Outlook; Boosts Share Buyback
(RTTNews) - Ahead of its virtual investor meeting later on Friday, healthcare company Centene Corp. (CNC) increased its full-year 2022 adjusted earnings guidance range by $0.15 to a new range of $5.55 to $5.70 per share and increased its Premium and Service Revenues guidance range by $2.0 billion to a new range of $134.3 billion to $136.3 billion.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.49 per share on revenues of $141.14 billion for the year. Analysts' estimates typically exclude special items.
The company said the fiscal 2022 guidance has been updated to reflect the increased Medicaid premium revenue reflecting the assumed ongoing suspension of Medicaid eligibility redeterminations to November 1, 2022, and favorable second quarter performance to date, primarily in Marketplace.
The Company also announced today that its Board of Directors has authorized a $3.0 billion increase to the Company's existing stock repurchase program and a new $1.0 billion debt repurchase program. The Company repurchased $200 million of stock in May 2022 and currently has $3.6 billion of authorization remaining.
Centene Reiterates FY24 Adj. EPS Outlook - Update
Centene Appoints Susan Smith As COO
TSX Ends Sharply Lower On Mixed Economic Data, Weak Commodities
Dollar Rises, Gains Against Major Counterparts
Swiss Market Ends On Buoyant Note
U.S. Dollar Higher Amid Risk Aversion
Major European Markets Close On Mixed Note
