Centene Reports Progress in Value Creation Plan, Despite Headwinds

  • Jul 29, 2022

    Despite facing several headwinds over the next year, including anticipated deterioration in Medicare Advantage star ratings and falling Medicaid enrollment, Centene Corp. increased its full-year 2022 earnings projections and unveiled the latest steps in its ongoing value creation plan.  

    The moves pleased investors, who drove Centene shares to a 52-week high, closing at $93.15 on July 26, the day financial results were posted.   

    Centene posted second-quarter 2022 adjusted earnings per share (EPS) of $1.77 on revenues of $35.9 billion, besting analysts’ estimate of $1.69. Adjustments included a charge of $1.45 billion related to real-estate divestitures, with $744 million for leased space and $706 million for owned real estate assets. Including the charge and other adjustments, Centene reported a second-quarter 2022 loss of $129 million, or 29 cents per share.  

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  • Jill Brown Kettler

    Jill oversees AIS Health’s publications and manages the health editorial staff. She joined AIS Health in 1999, and brings unique skills and energy to the company, along with an intelligent perspective on the forces reshaping the health care industry. She holds a graduate degree in health finance and management from Johns Hopkins University School of Public Health, and was formerly a consultant with Arthur Andersen, where she worked with managed care plans, hospitals and medical groups on financial issues impacting their operations.

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