Centene misses profit estimates on higher costs
- Centene also forecast 2021 adjusted profit between $5 and $5.30 per share, compared with Wall Street estimates of $5.24.
- Centene raised its full-year revenue forecast range to $116.1 billion to $118.1 billion, from $114.1 billion to $116.1 billion.
US health insurer Centene Corp on Tuesday missed Wall Street estimates for fourth-quarter profit due to higher costs.
Centene also forecast 2021 adjusted profit between $5 and $5.30 per share, compared with Wall Street estimates of $5.24, according to Refinitiv IBES.
Centene raised its full-year revenue forecast range to $116.1 billion to $118.1 billion, from $114.1 billion to $116.1 billion.
Net loss attributable to Centene was $12 million, or 2 cents per share, in the fourth quarter ended Dec. 31, compared with net earnings of $209 million, or 49 cents per share, a year earlier.
Centene reported adjusted earnings per share of 46 cents, below analysts' estimates of 47 cents.
Total revenue rose to $28.29 billion from $18.86 billion, missing analysts' estimates of $28.36 billion.
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