Centene Reports Small Loss As CEO Says Health Insurer On Track For ‘Faster Recovery’
Centene reported a $71 million third quarter loss though much improved over the year-ago period as the health insurer gets a handle on costs dogging the industry. Centene, which is one of the nation’s largest providers of Obamacare and is also a large provider of Medicaid health benefits for poor Americans, reported a $71 million loss or 14 cents in the third quarter ended Sept. 30. That compares to a loss of $6.6 billion, or $13.50 in the year ago period. Centene reported revenue of $50.65 billion in the period compared to $49.69 billion in the third quarter of last year. The improvement triggered an increase in the company’s full year adjusted diluted earnings per share guidance by 40 cents. Full year adjusted diluted earnings per share is now projected to be “greater $5.20,” the company said. Centene’s “marketplace” business is individual coverage under the Affordable Care Act also…
