By Chelsey Dulaney
Centene Corp. on Friday gave a stronger-than-expected outlook
for next year, as the Medicaid-focused health insurer benefits from
expansions into big states like Florida and Ohio and from surging
membership rates.
Centene said it expects to post per-share earnings of $5.05 to
$5.35, ahead of the $4.92 a share projected by analysts polled by
Thomson Reuters.
Premium and service revenue is expected to grow 32% to a range
of $20.3 billion to $20.8 billion. Analysts were looking for $19.98
billion.
The St. Louis company also backed its guidance for 2014, which
it has raised several times this year after posting results that
have topped Wall Street expectations.
Health-care companies have largely benefited from the new
health-care law as newly insured patients seek treatment.
HealthCare.gov's second enrollment effort runs through Feb. 15.
Like Centene, insurer Aetna Inc. raised its outlook several
times this year. But that company issued a weaker-than-expected
profit forecast for next year earlier this week.
Shares of Centene were inactive premarket and have climbed 68%
this year.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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