AI English summary of an SEC filing — figures as filed
The company reported GAAP diluted EPS of $1.36 and adjusted diluted EPS of $1.62 for Q3 2024. Premium and service revenues for the same quarter were $36.9 billion, up 6% from $35.0 billion a year earlier.
Key points
AI summaryThe company reported GAAP diluted EPS of $1.36 and adjusted diluted EPS of $1.62 for Q3 2024. Premium and service revenues for the same quarter were $36.9 billion, up 6% from $35.0 billion a year earlier.
The company said its health benefits ratio (HBR) for Q3 2024 was 89.2%, up from 87.0% in the comparable period a year earlier. It cited higher acuity in Medicaid from the redetermination process and the impact of Medicare Star ratings as factors.
Centene said operating cash flow for Q3 2024 was an outflow of $1.0 billion. It repurchased 16.3 million shares for $1.2 billion during the quarter, and in October it repurchased an additional 5.2 million shares for $380 million. As of October 25, 2024, $2.8 billion remains available under its repurchase authorization.
Centene said it is updating its full-year 2024 GAAP diluted EPS outlook floor to greater than $5.92 and reaffirming the adjusted diluted EPS outlook floor of greater than $6.80. It presented full-year total revenues outlook of $159.0 billion to $161.0 billion.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.
Q3 2024 GAAP and Adjusted Diluted EPS, Premium and Service Revenues
The company reported GAAP diluted EPS of $1.36 and adjusted diluted EPS of $1.62 for Q3 2024. Premium and service revenues for the same quarter were $36.9 billion, up 6% from $35.0 billion a year earlier.
Source · Based on the filing body and exhibits
Q3 Health Benefits Ratio of 89.2% and Company Explanation
The company said its health benefits ratio (HBR) for Q3 2024 was 89.2%, up from 87.0% in the comparable period a year earlier. It cited higher acuity in Medicaid from the redetermination process and the impact of Medicare Star ratings as factors.
Source · Based on the filing body and exhibits
Q3 Operating Cash Flow and Share Repurchases
Centene said operating cash flow for Q3 2024 was an outflow of $1.0 billion. It repurchased 16.3 million shares for $1.2 billion during the quarter, and in October it repurchased an additional 5.2 million shares for $380 million. As of October 25, 2024, $2.8 billion remains available under its repurchase authorization.
Source · Based on the filing body and exhibits
2024 Full-Year EPS Outlook
Centene said it is updating its full-year 2024 GAAP diluted EPS outlook floor to greater than $5.92 and reaffirming the adjusted diluted EPS outlook floor of greater than $6.80. It presented full-year total revenues outlook of $159.0 billion to $161.0 billion.
Source · Based on the filing body and exhibits
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.
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