Becker's Healthcare September 10, 2024
Centene expects rising Medicaid expenses to hurt its third-quarter earnings.
In documents filed with the Securities and Exchange Commission Sept. 10, the insurer said it expects its third quarter earnings per share to decline by 20 to 30 cents. Those earnings will shift to the fourth quarter, Centene said.
The company is maintaining its full year earnings guidance of at least $6.80 per share.
At an investor presentation on Sept. 4, Centene CFO Drew Asher said the company expected medical expenses in Medicaid to be higher in the third quarter than in the second quarter.
Centene’s medical loss ratio in the second quarter of 2024 was 87.6%.
Mr. Asher said medicaid redeterminations were the main...
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