Centene Backs FY24 Adj. EPS View Below Market, Lifts Revenue Forecast Above Street; Stock Climbs
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Centene Corp. (CNC) reported higher Q3 results but trimmed its FY24 earnings outlook, maintaining adjusted EPS guidance below market expectations. The company raised its annual revenue forecast above analyst estimates. In pre-market trading, Centene shares rose approximately 12%. For FY24, reported EPS is now expected to exceed $0.92, down from $0.94, while adjusted EPS remains above $0.80. Total revenue guidance was updated to $130-$132 billion, up from $126-$128 billion, with Q3 profit increasing to $1.36 per share, surpassing expectations.
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