More on Centene (CNC) Q4: net profit plunges 70% to $9.1M even though revs jumped 59%, with the...
Tuesday, February 5, 8:21 AM ETMore on Centene (CNC) Q4: net profit plunges 70% to $9.1M even though revs jumped 59%, with the bottom line suffering from the earlier-than-usual flu season in the U.S., as well because of a weak performance by Centene's Medicaid contracts in Texas and Kentucky. Membership +41% to 2.56M, health benefits ratio 91.3% vs 85.9%, cost of flu $0.30 higher in 2011. Reiterates FY guidance for EPS of $2.60-2.90 vs consensus of $2.70, and forecasts revenues of $9.7-10B vs $10.32B. (PR)
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