CNC - Centene's First-Quarter Surge: Sales Soar To $40.41B Exceeding Expectations: What's Next For The Healthcare Company? | Benzinga
Centene Corporation (NYSE:CNC) reported first-quarter sales of $40.41 billion, up 11% Y/Y, beating the consensus of $36.14 billion.
Premium and service revenues increased 4% to $36.3 billion, driven by membership growth in the Marketplace business due to strong product positioning and overall market growth, partially offset by recent divestitures in the Other segment and lower Medicaid membership primarily due to redeterminations.
The health benefits ratio of 87.1% for the first quarter of 2024 represented an increase from 87.0% in the comparable period in 2023.