NYSE$CNC
Centene Corp · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Centene's financial results for the third quarter ended September 30, 2021, were reported, with diluted EPS of $0.99 and adjusted diluted EPS of $1.26.
Centene Corporation reported strong third quarter results with total revenues of $32.4 billion, representing 11% growth compared to the third quarter of 2020, and a diluted EPS of $0.99 and adjusted diluted EPS of $1.26.
- Managed care membership reached 26.5 million, a 5% increase year-over-year.
- Total revenues grew by 11% to $32.4 billion compared to Q3 2020.
- The health benefits ratio (HBR) was 88.1% for the third quarter of 2021.
- Operating cash flow was $1.8 billion, 3.1 times net earnings for Q3 2021.
Headline financials
Revenue & EPS history
Centene · Revenue · Quarterly
$32.4B
Revenue by segment
Centene · $32B total across 4 segments · Q3 2021
- Medicaid$21.6B+13.6%67.6%
- Commercial$4.38B-5.5%13.7%
- Medicare$3.92B+8.8%12.3%
- Other$2.08B+68.0%6.5%
Forward guidance
The Company's revenue guidance has been increased to reflect the acquisition of Circle Health, which is expected to be neutral to adjusted EPS in the first six months of ownership, and approximately $500 million of additional pass through payments.
Tailwinds
- Total revenues (in billions) between $125.2 and $126.4
- GAAP diluted EPS between $1.87 and $1.93
- Adjusted diluted EPS between $5.05 and $5.15
- HBR between 87.6% and 88.0%
- Diluted shares outstanding (in millions) between 589.0 and 592.0
Headwinds
- SG&A expense ratio between 8.4% and 8.8%
- Adjusted SG&A expense ratio between 8.2% and 8.6%
- Effective tax rate between 29.9% and 30.9%
- Adjusted effective tax rate between 24.6% and 25.6%
- Acquisition related expenses of $164 million to $179 million are excluded from Adjusted SG&A expense ratio
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
+0.4%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+1.9%
Avg return
30 days after
54%
37 / 68 earnings
Positive
+13.8%
Q1 2014
Best reaction
-10.4%
Q2 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.5% | +22.6% | +33.9% | |
| Q4 2025 | -3.7% | +1.3% | +9.3% | |
| Q3 2025 | +12.5% | +3.9% | +18.5% | |
| Q1 2025 | -6.3% | -2.8% | -8.4% | |
| Q4 2024 | -5.4% | -9.1% | -8.3% | |
| Q3 2024 | +0.0% | +0.3% | -2.0% | |
| Q2 2024 | +9.0% | +14.1% | +16.5% | |
| Q1 2024 | -2.4% | -4.5% | -1.4% | |
| Q4 2023 | +1.1% | +4.4% | +7.5% | |
| Q3 2023 | -3.0% | -4.8% | +4.7% | |
| Q2 2023 | -2.7% | -3.7% | -9.2% | |
| Q1 2023 | -1.5% | +1.9% | -6.3% | |
| Q4 2022 | +2.7% | +2.4% | -7.7% | |
| Q3 2022 | +11.9% | +13.2% | +10.3% | |
| Q2 2022 | +0.6% | +1.1% | +4.1% | |
| Q1 2022 | -4.9% | -5.1% | -3.5% | |
| Q4 2021 | +6.4% | +3.1% | +4.5% | |
| Q3 2021 | +3.8% | +4.8% | +11.2% | |
| Q2 2021 | -4.0% | -5.6% | -12.5% | |
| Q1 2021 | -9.9% | -6.5% | +11.7% | |
| Q4 2020 | +4.8% | +1.6% | +6.3% | |
| Q3 2020 | -7.9% | -11.0% | -6.3% | |
| Q2 2020 | -1.4% | -3.0% | -10.1% | |
| Q1 2020 | -6.6% | -8.3% | -5.5% | |
| Q4 2019 | +5.1% | +0.4% | -5.0% | |
| Q3 2019 | +5.7% | +5.4% | +30.4% | |
| Q2 2019 | +3.0% | +2.4% | -12.7% | |
| Q1 2019 | +4.4% | +9.5% | +15.3% | |
| Q4 2018 | -2.9% | -3.2% | -13.2% | |
| Q3 2018 | -8.3% | -9.9% | -5.5% | |
| Q2 2018 | -3.1% | -3.0% | +6.0% | |
| Q1 2018 | -1.2% | -0.4% | +5.5% | |
| Q4 2017 | +5.0% | +2.3% | +0.9% | |
| Q3 2017 | -7.4% | -3.7% | -1.1% | |
| Q2 2017 | -1.0% | -1.8% | +2.1% | |
| Q1 2017 | +1.1% | +3.3% | +4.5% | |
| Q4 2016 | +7.9% | +9.1% | +9.3% | |
| Q3 2016 | +1.4% | +0.1% | -10.5% | |
| Q2 2016 | -10.4% | -6.3% | -10.0% | |
| Q1 2016 | +4.2% | — | — | |
| Q4 2015 | +2.2% | — | — | |
| Q3 2015 | +5.3% | — | — | |
| Q2 2015 | +0.2% | — | — | |
| Q1 2015 | -9.7% | — | — | |
| Q4 2014 | +5.6% | — | — | |
| Q3 2014 | +9.3% | — | — | |
| Q2 2014 | +5.8% | — | — | |
| Q1 2014 | +13.8% | — | — | |
| Q4 2013 | +4.5% | — | — | |
| Q3 2013 | -4.1% | — | — | |
| Q2 2013 | +5.1% | — | — | |
| Q1 2013 | +4.4% | — | — | |
| Q4 2012 | +6.1% | — | — | |
| Q3 2012 | +0.3% | — | — | |
| Q2 2012 | +6.9% | — | — | |
| Q1 2012 | -6.0% | — | — | |
| Q4 2011 | -2.5% | — | — | |
| Q3 2011 | +12.6% | — | — | |
| Q2 2011 | +3.3% | — | — | |
| Q1 2010 | +10.9% | — | — | |
| Q1 2011 | +2.4% | — | — | |
| Q4 2008 | -6.5% | — | — | |
| Q4 2010 | -6.5% | — | — | |
| Q3 2009 | -6.6% | — | — | |
| Q2 2009 | -6.6% | — | — | |
| Q3 2010 | -6.6% | — | — | |
| Q4 2009 | -5.3% | — | — | |
| Q2 2010 | -5.3% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro