Health coverage company Centene (NYSE: CNC) will be reporting results this Tuesday before market open. Here’s what to look for.
Centene beat analysts’ revenue expectations last quarter, reporting revenues of $49.73 billion, up 21.9% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ revenue estimates but full-year revenue guidance missing analysts’ expectations. It lost -334,600 customers and ended up with a total of 27.63 million.
Is Centene a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Centene’s revenue to be flat year on year, slowing from the 15.4% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Centene has a history of exceeding Wall Street’s expectations.
Looking at Centene’s peers in the health insurance providers segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Elevance Health delivered year-on-year revenue growth of 1.5%, beating analysts’ expectations by 2.4%, and UnitedHealth reported revenues up 2%, topping estimates by 1.7%. Elevance Health traded up 5.5% following the results while UnitedHealth was also up 9.2%.
Read our full analysis of Elevance Health’s results here and UnitedHealth’s results here.
There has been positive sentiment among investors in the health insurance providers segment, with share prices up 10.1% on average over the last month. Centene is up 31.1% during the same time and is heading into earnings with an average analyst price target of $43.47 (compared to the current share price of $41.69).
ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.
These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.
