Centene Corporation Q1 Profit Increases, beats estimates

(RTTNews) - Centene Corporation (CNC) released earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $1.16 billion, or $2.16 per share. This compares with $1.13 billion, or $2.04 per share, in last year's first quarter.

Excluding items, Centene Corporation reported adjusted earnings of $1.22 billion or $2.26 per share for the period.

Analysts on average had expected the company to earn $2.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.9% to $40.41 billion from $38.89 billion last year.

Centene Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $1.16 Bln. vs. $1.13 Bln. last year. -EPS (Q1): $2.16 vs. $2.04 last year. -Revenue (Q1): $40.41 Bln vs. $38.89 Bln last year.

-Guidance: Full year EPS guidance: $6.80 Full year revenue guidance: $147.5 - $150.5 Bln