Centene Corp. (NYSE:CNC) Q2 2020 Earnings Conference Call - Final Transcript

Jul 28, 2020 • 08:30 am ET


Centene Corp. (NYSE:CNC) Q2 2020 Earnings Conference Call - Final Transcript


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Good day and welcome to the Centene Corporation Second Quarter 2020 Earnings Call. [Operator Instructions].

I would now like to turn the conference over to Jennifer Gilligan, Head of Investor Relations. Please go ahead.

Jennifer Gilligan

Thank you, Jason, and good morning everyone. Thank you for joining us on our Second Quarter 2020 Earnings Results Conference Call. Michael Neidorff, Chairman, President and Chief Executive Officer and Jeff Schwaneke, Executive Vice President and Chief Financial Officer of Centene will host this morning's call, which also can be accessed through our website at centene.com.

Any remarks that Centene may make about future expectations, plans and prospects constitute forward-looking statements for the purpose of the Safe Harbor provision under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by those forward-looking statements as a result of various important factors, including those discussed in Centene's most recent Form 10-Q filed today, July 28 and 10-K dated February 18, 2020 and other public SEC filings, including the risks and uncertainties described with respect to the potential impacts of COVID-19 on our business and results of operations. Centene anticipates that subsequent events and developments will cause its estimates to change. While the company may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so.

The call will also refer to certain non-GAAP measures, a reconciliation of these measures with the most directly comparable GAAP measures can be found in our second quarter 2020 press release, which is available on the company's website at centene.com under the Investors section. Additionally, please mark your calendars for our third quarter earnings release, which is expected to take place on October 27, 2020.

With that, I would like to turn the call over to our Chairman, President and CEO, Michael Neidorff. Michael?

Michael F. Neidorff

Thank you, Jennifer. Good morning and thank you for joining Centene's Second Quarter's Earnings Call. We hope all of you and your families are staying safe and well. There is a lot to discuss today, especially as the environment around us continues to rapidly evolve. I will start by reiterating our confidence in the strength of our business. Centene was built to endure and manage through times of uncertainty. We have a strong balance sheet with ample liquidity. We have experience with crises. We have emerged from prior recessions with strong growth, and we see opportunities for continued growth today.

With our scale, our diversity, our systems and our impact, we are confident in the strength of our business and our ability to continue to lead through this crisis. You have heard me say we make decisions based on the facts as they are today and never has this been more true or appropriate, as we manage our business in this pandemic environment. I stated several months ago that we expect the environment and our financial results to be choppy from quarter to quarter. And I want to reemphasize nothing can't be truer than