Centene Corp.

NYSE:CNC  
82.96
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Other Pre-Announcement

Centene Raises 2022 Guidance, Sees Adjusted EPS $5.55 To $5.70

Published: 06/17/2022 10:47 GMT
Centene Corp. (CNC) - Oration Announces Increased 2022 Guidance and Value Creation Updates.
2022 Adjusted Diluted EPS of $5.55 to $5.70.
Board Authorizes $3 Billion Increase to Stock Repurchase Program and New $1 Billion Debt Repurchase Program.
Board Authorizes $3 Billion Increase to Stock Repurchase Program and New $1 Billion Debt Repurchase Program.
For 2022, Company Has Increased Its Premium and Service Revenues Guidance Range by $2.0 Billion to a New Range of $134.3 Billion to $136.3 Billion.
Initiated a Reduction of Its Real Estate Footprint.
Guidance Does Not Reflect Effects of Pending Divestitures of Magellan Rx and Pantherx.
FY2022 Earnings per Share View $5.49, Revenue View $141.14 Billion -- Refinitiv Ibes Data (analyst estimates).
Expects to Record Estimated Pre-tax Costs Including Impairments of Approximately $750 Million to $800 Million Attributable to Leased Space.
Expects to Decrease Its Leased Real Estate Expense by an Annualized Run Rate of $180 Million to $200 Million.
Costs Expected to Be Recorded Primarily During Second and Third Quarters of 2022 and Will Be Recorded Outside of Adjusted Diluted Eps.
Expects to Record Estimated Pre-tax Costs Including Impairments of About $750 Million to $850 Million Attributable to Owned Real Estate.