Centene said premium and service revenues for 2023 were $140.1 billion, up 3% from a year earlier. Diluted EPS was $4.95, compared with $2.07 in 2022. Adjusted diluted EPS was $6.68, compared with $5.78 in 2022. Operating cash flow was $8.1 billion.

1. 01

   Centene said premium and service revenues for 2023 were $140.1 billion, up 3% from a year earlier. Diluted EPS was $4.95, compared with $2.07 in 2022. Adjusted diluted EPS was $6.68, compared with $5.78 in 2022. Operating cash flow was $8.1 billion.

2. 02

   The company said total revenues rose 7% in 2023, and Marketplace membership grew 88%. The HBR was 87.7%, the same as in 2022. It also said it recorded a $250 million premium deficiency reserve in 2024 related to its Medicare Advantage business.

3. 03

   Centene said it completed the divestiture of Operose Health in December 2023 and recognized an impairment of $140 million. It also recorded an impairment of $292 million tied to the agreement to sell Circle Health that year. It recognized a gain of $93 million on the divestiture of its Apixio stake and a gain of $79 million on the sale of Magellan Specialty Health.

4. 04

   The company said it repurchased 22.9 million shares for $1.6 billion under its stock repurchase program in 2023. It also said about $5.2 billion remained under the program as of December 31, 2023.

Key figures

Fiscal year ended December 31, 2023

Operating income

$2.9B

Net income

$2.7B

EPS

$4.95

Gross profit

$17.6B

Operating cash flow

$8.1B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.