$CNC (Centene Corp.)

$CNC {{ '2016-06-09T12:38:45+0000' | timeago}} • Announcement

$CNC said it has commenced an offering of approx. $500MM aggregate principal amount of 4.75% Senior Notes due 2022 through underwriters led by Citigroup, Barclays, SunTrust Robinson Humphrey, and Wells Fargo Securities. Morgan Stanley, Evercore ISI, Fifth Third Securities, Regions Securities LLC and US Bancorp will be the co-managers of offering.

$CNC {{ '2017-08-15T15:54:32+0000' | timeago}} • Announcement

Healthcare company $CNC said its Illinois subsidiary IlliniCare Health was awarded the Medicaid Managed Care Program by the Illinois Department of Healthcare and Family Services. The four-year agreement includes an option to renew the contract for up to an additional four years. The program is expected to commence on January 1, 2018.

$CNC {{ '2017-06-20T14:27:55+0000' | timeago}} • Announcement

Healthcare firm $CNC said its subsidiary Magnolia Health has been selected by the Mississippi Division of Medicaid to serve Medicaid recipients enrolled in the Mississippi Coordinated Access Network. The three-year agreement, which includes the option of two one-year extensions, is expected to commence in mid-2018.

$CNC {{ '2017-06-13T15:38:28+0000' | timeago}} • Announcement

$CNC is expanding its offerings in the 2018 Health Insurance Marketplace, or exchange. The company is planning to enter Kansas, Missouri and Nevada in 2018, and expanding its footprint in six existing markets, Florida, Georgia, Indiana, Ohio, Texas, and Washington.

$CNC {{ '2017-05-25T15:01:59+0000' | timeago}} • Announcement

$CNC's Washington subsidiary, Coordinated Care, has been selected by the Washington State Health Care Authority to provide managed care services to Apple Health's Fully Integrated Managed Care (FIMC) beneficiaries in three counties that make up the North Central Region. The contract is expected to commence Jan. 1, 2018.

$CNC {{ '2017-05-11T15:40:57+0000' | timeago}} • Announcement

$CNC said Centurion of Florida, a JV between $CNC and MHM Services, has been selected to provide correctional healthcare services for the Florida Department of Corrections in South Florida. The expanded Florida operations are expected to start in the summer of 2017.

$CNC {{ '2017-04-25T16:42:34+0000' | timeago}} • Webcast

$CNC expects the effective tax rate to be 39-41% in FY17. The shifting of the start date of the Pennsylvania contract from 2Q17 to Jan 1, 2018, is expected to increase startup costs. It's unit, Alabama Healthcare Advantage, which was expected to go live in Oct. 2017, ended its capital contributor agreement, therefore, affecting the forecast.

$CNC {{ '2017-04-25T11:05:57+0000' | timeago}} • Announcement

For FY17, $CNC expects revenue in the range of $46-46.8Bil and GAAP EPS in the range of $3.75-4.15. Adjusted EPS is predicted between $4.50 and $4.90.

$CNC {{ '2017-04-25T11:02:01+0000' | timeago}} • Announcement

As more people used healthcare enterprise services of $CNC, the company posted 69% growth in its revenue to $11.7Bil in 1Q17. Managed care membership witnessed a rise of 5% to 12.1MM. This helped it swing to a profit of $139MM, or $0.79 per share, from a loss of $16MM, or $0.13 per share in the year-ago period. Adjusted EPS was $1.12 per share.

$CNC {{ '2017-02-21T15:32:48+0000' | timeago}} • Announcement

$CNC appointed former Missouri Attorney General Chris Koster to SVP, Corporate Services effective Feb. 20, 2017. Koster will report directly to CEO Michael Neidorff, and will assist in business-related issues, outside of Government Relations, for $CNC's locally-based health plans across the country.

$CNC {{ '2017-02-07T19:08:59+0000' | timeago}} • Webcast

$CNC continues to expect overall stable medical cost trends, consistent with the company's expectation in the low single digits. In Medicare, the company served over 334,000 beneficiaries at year end and overall, $CNC expects its Medicare advantage business to be profitable in 2017.

$CNC {{ '2017-02-07T12:18:26+0000' | timeago}} • Announcement

For FY17, $CNC expects revenue to be in the range of $46-46.8Bil. Earnings for the year is expected to be $3.82-4.26 per share on a GAAP basis and $4.40-4.85 per share on an adjusted basis.

$CNC {{ '2017-02-07T12:12:46+0000' | timeago}} • Announcement

$CNC generated cash flow from operations of $1.6Bil for 4Q16. At Dec. 31, 2016, the company had cash, investments and restricted deposits of $9.1Bil, and medical claims liabilities of $3.9Bil. Managed care membership grew 124% YoY to 11.4MM at the end of 4Q16.

$CNC {{ '2017-02-07T12:07:15+0000' | timeago}} • Announcement

Health insurer $CNC reported a net income of $261MM or $1.49 per diluted share in 4Q16, compared with $111MM or $0.90 per diluted share a year ago. Revenue grew 89% YoY to $11.9Bil, driven by a strong growth in premium revenue. On an adjusted basis, the company earned $1.19 per share, an increase of 97% YoY.

$CNC {{ '2017-01-05T19:51:27+0000' | timeago}} • Announcement

$CNC said its Pennsylvania Health & Wellness subsidiary has been selected by the Pennsylvania Department of Human Services to serve Medicaid recipients enrolled in the HealthChoices program in three zones. Pending regulatory approval and successful completion of readiness review, the three-year agreement is expected to commence June 1, 2017.

$CNC {{ '2016-12-16T01:14:11+0000' | timeago}} • Announcement

$CNC expects revenues to be in the range of $46-46.8Bil, earnings per diluted share of about $3.78-4.22 and adjusted earnings per diluted share of about $4.40-4.85 for FY17. Consolidated health benefits ratio is expected to be approx. 87-87.5% and consolidated SG&A expense ratio to be in the range of 9-9.5%.

$CNC {{ '2016-11-18T14:49:13+0000' | timeago}} • Announcement

$CNC said the Georgia Department of Community Health (DCH) has awarded its Georgia subsidiary, Peach State Health Plan, a statewide managed care contract to continue serving members enrolled in the Georgia Families managed care program. The contract is expected to become effective July 1, 2017, and includes five additional 1-year renewal options.

$CNC {{ '2016-11-08T12:10:14+0000' | timeago}} • Announcement

$CNC said the Department of Health and Human Services and the Division of Health Care Financing and Policy selected its Nevada subsidiary, Silver Summit Health Plan. The 4-year agreement is expected to begin on July 1, 2017.

$CNC {{ '2016-11-04T18:21:49+0000' | timeago}} • Announcement

$CNC said its unit Kentucky Spirit Health Plan has settled all lawsuits and complaints associated with its contract with the Commonwealth of Kentucky. Kentucky Spirit will receive an immaterial cash payment from the Commonwealth's actuarial firm and each party will dismiss all claims related to the litigation with prejudice.

$CNC {{ '2016-10-25T13:21:52+0000' | timeago}} • Announcement

$CNC narrowed its 2016 GAAP EPS guidance to $2.73-2.83 from prior estimate of $2.65-3.00. The company also cut its adjusted EPS outlook to $4.28-4.38 from prior range of $4.20-4.55.

$CNC {{ '2016-10-25T13:14:13+0000' | timeago}} • Announcement

Healthcare major $CNC reported a rise in 3Q16 earnings as acquisitions and new programs drove revenue. Net income rose to $145MM or $0.83 per share from $93MM or $0.76 per share in 3Q15. Revenues jumped 86% to $10.85Bil, helped by the company's acquisition of Health Net and growth in the Health Insurance Marketplace.

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