(3) Membership includes Medicare Advantage and Medicare Supplement. Additionally, approximately $198 million was recorded as a reduction to premium revenues resulting from development within "Incurred related to: Prior period" due to minimum HBR and other return of premium programs. "Centene'sfirst quarter results were strong, reflective of continued positive momentum operationally and the beginning of another year of disciplined execution against our strategic framework," said Sarah M. London, Chief Executive Officer of Centene. You should not place undue reliance on any forward-looking statements, as actual results may differ materially from projections, estimates, or other forward-looking statements due to a variety of important factors, variables, and events including, but not limited to: our ability to design and price products that are competitive and/or actuarially sound including but not limited to any impacts resulting from Medicaid redeterminations; our ability to maintain or achieve improvement in the Centers for Medicare and Medicaid Services (CMS) Star ratings and maintain or achieve improvement in other quality scores in each case that can impact revenue and future growth; our ability to accurately predict and effectively manage health benefits and other operating expenses and reserves, including fluctuations in medical utilization rates; competition, including our ability to reprocure our contracts and grow organically; the timing and extent of benefits from our value creation strategy, including the possibility that the benefits received may be lower than expected, may not occur, or will not be realized within the expected time periods; disruption, unexpected costs, or similar risks from business transactions, including acquisitions, divestitures, and changes in our relationships with third parties; impairments to real estate, investments, goodwill, and intangible assets; the risk that the election of new directors, changes in senior management, and any inability to retain key personnel may create uncertainty or negatively impact our ability to execute quickly and effectively;membership and revenue declines or unexpected trends; rate cuts or other payment reductions or delays by governmental payors and other risks and uncertainties affecting our government businesses; changes in healthcare practices, new technologies, and advances in medicine; increased healthcare costs; inflation; changes in economic, political, or market conditions; changes in federal or state laws or regulations, including changes with respect to income tax reform or government healthcare programs as well as changes with respect to the Patient Protection and Affordable Care Act and the Health Care and Education Affordability Reconciliation Act (collectively referred to as the ACA) and any regulations enacted thereunder; tax matters; disasters or major epidemics; changes in expected contract start dates; provider, state, federal, foreign, and other contract changes and timing of regulatory approval of contracts; the expiration, suspension, or termination of our contracts with federal or state governments (including, but not limited to, Medicaid, Medicare, TRICARE, or other customers); the difficulty of predicting the timing or outcome of legal or regulatory proceedings or matters, including, but not limited to, our ability to resolve claims and/or allegations made by states with regard to past practices, including at Centene Pharmacy Services (formerly Envolve Pharmacy Solutions, Inc. (Envolve)), as our pharmacy benefits manager (PBM) subsidiary, within the reserve estimate we previously recorded and on other acceptable terms, or at all, or whether additional claims, reviews or investigations will be brought by states, the federal government or shareholder litigants, or government investigations; challenges to our contract awards; cyber-attacks or other privacy or data security incidents; the exertion of management's time and our resources, and other expenses incurred and business changes required in connection with complying with the undertakings in connection with any regulatory, governmental or third party consents or approvals for acquisitions or dispositions; any changes in expected closing dates, estimated purchase price, and accretion for acquisitions or dispositions; restrictions and limitations in connection with our indebtedness; a downgrade of the credit rating of our indebtedness; the availability of debt and equity financing on terms that are favorable to us; foreign currency fluctuations; and risks and uncertainties discussed in the reports that Centene has filed with the Securities and Exchange Commission. RIP the Halo View. Centene (the Company, our, or we) intends such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we are including this statement for purposes of complying with these safe-harbor provisions. (3)Adjusted effective tax rate excludes income tax effects of adjustments of approximately $250 million to $260 million. Any reduction in the "Incurred related to: Prior period" amount may be offset as Centene actuarially determines the "Incurred related to: Current period." ET acquired in January 2022. LOUIS, Sept. 11, 2020 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today that it plans to expand its offering in the 2021 Health Insurance Marketplace. Centene to grow geographic footprint in Medicare Advantage by 26% for 2022 | Fierce Healthcare Fierce Pharma Fierce Biotech Fierce Healthcare Fierce Life Sciences Preferred stock, $0.001 par value; authorized 10,000 shares; no shares issued or, Common stock, $0.001 par value; authorized 800,000 shares; 607,847 issued and, Net increase (decrease) in cash, cash equivalents, and restricted cash and cash, The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents reported within the Consolidated, Purchase Order Supplemental disclosures of cash flow information: Equity issued in connection with acquisitions. The income tax effects of adjustments are based on the effective income tax rates applicable to each adjustment. The income tax effects of adjustments are based on the effective income tax rates applicable to each adjustment. Cash flow used in operations for the fourth quarter of 2022 was, For the full year 2022, total revenues increased 15% to. Therefore, the Company believes that this information is meaningful in addition to the information contained in the GAAP presentation of financial information. Innovation Service Market 2022 Advance Technology, Latest Trend and Future Expansion by 2030 Published: April 24, 2023 at 9:08 a.m. For its 2023 fiscal year, the Company's guidance is as follows: In addition, in preparation for the Magellan Specialty divestiture, as well as planning for the future, the Company also announced today that its Board of Directors has authorized a $2.0billion increase to the Company's existing stock repurchase program. For the first quarter 2023, Samsung Biologics recorded a consolidated revenue of KRW 720.9 billion and an operating profit of KRW 191.7 billion. The Company also references a long-term adjusted diluted EPS CAGR target. The amount of the "Incurred related to: Prior period" above represents favorable development and includes the effects of reserving under moderately adverse conditions, new markets where we use a conservative approach in setting reserves during the initial periods of operations, receipts from other third party payors related to coordination of benefits and lower medical utilization and cost trends for dates of service March31, 2022, and prior. In addition, a digital audio playback will be available until 9:00 AM (Eastern Time) on Tuesday, May 2, 2023, by dialing 1-877-344-7529 in the U.S., 1-855-669-9658 in Canada, or +1-412-317-0088 from abroad, and entering access code 7234123. In summary, the 2023 first quarter results were as follows: Premium and service revenues (in millions), Total cash flow provided by operations (in millions). The increases were driven by growth in the Marketplace business, which operates at a higher SG&A ratio. These statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions. Statement of Operations: Three Months Ended June 30, 2022. For the second quarter of 2022, total revenues increased 16% to $35.9 billion from $31.0 billion in the The income tax effects of adjustments are based on the effective income tax rates applicable to each adjustment. In addition, a digital audio playback will be available until 9:00 AM (Eastern Time) on Tuesday, February 14, 2023, by dialing 1-877-344-7529 in the U.S., 1-855-669-9658 in Canada, or +1-412-317-0088 from abroad, and entering access code 9175346. The investments include the creation of Kornmarken Campus, which will connect the existing LEGO factory with a new 46,000m2 building. In addition, for the three months ended March 31, 2023: Magellan Specialty Health divestiture gain of $0.14, for the year ended December 31, 2023, an estimated: $0.14 ($0.12 after-tax) of Magellan Specialty, The income tax effects of adjustments are based on the effective income tax rates applicable to each adjustment. The Company is providing certain non-GAAP financial measures in this report as the Company believes that these figures are helpful in allowing investors to more accurately assess the ongoing nature of the Company's operations and measure the Company's performance more consistently across periods. The increases were due to the additions of the Magellan and Circle Health businesses, which operate at higher SG&A ratios due to the nature of their respective businesses. Centene uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. We discuss certain of these matters more fully, as well as certain other factors that may affect our business operations, financial condition, and results of operations, in our filings with the Securities and Exchange Commission (SEC), including our annual report on Form 10-K, other quarterly reports on Form 10-Q and current reports on Form 8-K. Due to these important factors and risks, we cannot give assurances with respect to our future performance, including without limitation our ability to maintain adequate premium levels or our ability to control our future medical and selling, general and administrative costs. The tables below provide reconciliations of non-GAAP items ($ in millions, except per share data): Amortization of acquired intangible assets. You should not place undue reliance on any forward-looking statements, as actual results may differ materially from projections, estimates, or other forward-looking statements due to a variety of important factors, variables and events including, but not limited to: our ability to accurately predict and effectively manage health benefits and other operating expenses and reserves, including fluctuations in medical utilization rates due to the ongoing impact of COVID-19; our ability to maintain or achieve improvement in the Centers for Medicare and Medicaid Services (CMS) Star ratings and maintain or achieve improvement in other quality scores in each case that can impact revenue and future growth; the risk that the election of new directors, changes in senior management, and any inability to retain key personnel may create uncertainty or negatively impact our ability to execute quickly and effectively; uncertainty as to the expected financial performance of the combined company following the recent completion of the acquisition of Magellan Health, Inc. (the Magellan Acquisition); the possibility that the expected synergies and value creation from the Magellan Acquisition or the acquisition of WellCare Health Plans, Inc. (the WellCare Acquisition) (or other acquired businesses) will not be realized, or will not be realized within the respective expected time periods; disruption from the integration of the Magellan Acquisition or from the integration of the WellCare Acquisition; unexpected costs, or similar risks, from other acquisitions or dispositions we may announce or complete from time to time, including potential adverse reactions or changes to business relationships with customers, employees, suppliers or regulators, making it more difficult to maintain business and operational relationships; the risk that the closing conditions, including applicable regulatory approvals, for the pending disposition of Magellan Specialty Health may be delayed or not obtained; impairments to real estate, investments, goodwill and intangible assets; a downgrade of the credit rating of our indebtedness; competition; membership and revenue declines or unexpected trends; changes in healthcare practices, new technologies, and advances in medicine; increased healthcare costs; changes in economic, political or market conditions; changes in federal or state laws or regulations, including changes with respect to income tax reform or government healthcare programs as well as changes with respect to the Patient Protection and Affordable Care Act and the Health Care and Education Affordability Reconciliation Act (collectively referred to as the ACA) and any regulations enacted thereunder that may result from changing political conditions, the current administration or judicial actions; rate cuts or other payment reductions or delays by governmental payors and other risks and uncertainties affecting our government businesses; our ability to adequately price products; tax matters; disasters or major epidemics; changes in expected contract start dates; provider, state, federal, foreign and other contract changes and timing of regulatory approval of contracts; the expiration, suspension, or termination of our contracts with federal or state governments (including, but not limited to, Medicaid, Medicare, TRICARE or other customers); the difficulty of predicting the timing or outcome of legal or regulatory proceedings or matters, including, but not limited to, our ability to resolve claims and/or allegations made by states with regard to past practices, including at Envolve Pharmacy Solutions, Inc. (Envolve), as our pharmacy benefits manager (PBM) subsidiary, within the reserve estimate we previously recorded and on other acceptable terms, or at all, or whether additional claims, reviews or investigations relating to our PBM business will be brought by states, the federal government or shareholder litigants, or government investigations; the timing and extent of benefits from our value creation strategy, including the possibility that the benefits received may be lower than expected, may not occur, or will not be realized within the expected time periods; challenges to our contract awards; cyber-attacks or other privacy or data security incidents; the exertion of management's time and our resources, and other expenses incurred and business changes required in connection with complying with the undertakings in connection with any regulatory, governmental or third party consents or approvals for acquisitions or dispositions; any changes in expected closing dates, estimated purchase price and accretion for acquisitions or dispositions; restrictions and limitations in connection with our indebtedness; the availability of debt and equity financing on terms that are favorable to us; inflation; foreign currency fluctuations; and risks and uncertainties discussed in the reports that Centene has filed with the Securities and Exchange Commission. The Company is unable to provide a reconciliation of its 2024 adjusted EPS target to the corresponding GAAP measure without unreasonable effort due to the difficulty of predicting the timing and amounts of various items within a reasonable range. The effective tax rate for the fourth quarter of 2022 reflects the tax effects of pending and completed divestitures and impairments associated with our ongoing portfolio review, including the Magellan Rx divestiture gain, the non-deductible impairment of our Health Net Federal Services business, and tax impacts related to the reclassification of the Magellan Specialty Health business to held for sale. The health of individuals drives our focus on the environment, The tables below provide reconciliations of non-GAAP items ($ in millions, except per share data): GAAP net earnings attributable to Centene, Amortization of acquired intangible assets, Acquisition and divestiture related expenses. The HBR for 2022 was positively impacted by disciplined Marketplace pricing and 2021 risk adjustment recorded in 2022, partially offset by a return to more normalized Medicaid utilization and higher flu costs compared to 2021. ET 2 c. 3 d. 5 Feedback For 2023, Centene will be offering plans to over 51 million It also reported $31.97 billion Centene believes it has consistently applied its claims reserving methodology. Investors and other interested parties are invited to listen to the conference call by dialing 1-877-883-0383 in the U.S. and Canada; +1-412-902-6506 from abroad, including the following Elite Entry Number: 8655989 to expedite caller registration; or via a live, audio webcast on the Company's website at www.centene.com, under the Investors section. Pessimistic target level: 63.27 Total Broadband: Total broadband net additions of 437,000 was the largest result in more than a decade, reflecting a strong demand for fixed wireless and Fios products. By their nature, forward-looking statements involve known and unknown risks and uncertainties and are subject to change because they relate to events and depend on circumstances that will occur in the future, including economic, regulatory, competitive, and other factors that may cause our or our industry's actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. (1) Medicare includes Medicare Advantage, Medicare Supplement, D-SNPs, and Medicare PDP. GAAP selling, general and administrative expenses, Costs related to the PBM legal settlement, Adjusted selling, general and administrative expenses. Additionally, approximately $193 million was recorded as a reduction to premium revenues resulting from development within "Incurred related to: Prior period" due to minimum HBR and other return of premium programs. The following table sets forth supplemental revenue information ($ in millions): (1) Medicare includes Medicare Advantage, Medicare Supplement, D-SNPs, and Medicare Prescription Drug Plan (PDP). Diluted earnings per share (EPS) of $5.25 to $5.40. "Our disciplined focus in 2022 allowed us to successfully execute on foundational work that will support our long-term growth strategy. Centene.com uses cookies. Panupong Tejapaibul, chief executive officer and co-founder of Ticketmelon, announced this last month. 3 All PDPs will continue to offer $0 tier 1 preferred cost-sharing through CVS Medication Home Delivery In total, 14 local CENTENE CORPORATION ANNOUNCES 2023 GUIDANCE - Dec 16, 2022 2023 Adjusted Diluted EPS of $6.25 to $6.40 Announces Long-Term Adjusted Diluted Financial and other information about Centene is routinely posted and is accessible on Centene's investor relations website, https://investors.centene.com/. Net income of $5.0 billion, an increase of 6.5 percent from first-quarter 2022, and adjusted EBITDA 1 of $11.9 billion, down 1.1 percent year over year. ET Full year 2022 earnings will be reported on February7, 2023, at 6:00 a.m. (Eastern Time), with a conference call at 8:30 a.m. (Eastern Time). We also delivered strong financial results, exceeding our most recent full year guidance," said Sarah M. London, Chief Executive Officer of Centene. Therefore, the Company believes that this information is meaningful in addition to the information contained in the GAAP presentation of financial information. -- 2022Full Year Diluted EPS of $2.07; Adjusted Diluted EPS of $5.78 --. The presentation of this additional non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. In April 2023, the Company repurchased an additional 3.0million shares for $200 million. The SG&A expense ratio was 9.5% for the fourth quarter of 2022, compared to 8.8% in the fourth quarter of 2021. Premium and service revenues (in millions) $ 34,952. The health of individuals drives our focus on the environment, For the first quarter of 2023, premium and service revenues increased 2% to $35.0 billion from $34.2 billion in the comparable period of 2022. Investors and other interested parties are invited to listen to the conference call by dialing 1-877-883-0383 in the U.S. and Canada; +1-412-902-6506 from abroad, including the following Elite Entry Number: 6826970 to expedite caller registration; or via a live, audio webcast on the Company's website at www.centene.com, under the Investors section. The HBR for the first quarter of 2023 was favorably impacted by continued disciplined Marketplace pricing and lower utilization in Medicare, partially offset by updated Medicaid return of premium payable revenue estimates related to prior periods. All forward-looking statements included in this press release are based on information available to us on the date hereof. The Company uses the presented non-GAAP financial measures internally in evaluating the Company's performance and for planning purposes, by allowing management to focus on period-to-period changes in the Company's core business operations, and in determining employee incentive compensation. Therefore, the Company believes that this information is meaningful in addition to the information contained in the GAAP presentation of financial information. Total debt was $18.0 billion, which included $58 million of borrowings on our $2.0 billion revolving credit facility at quarter end. Our estimate of $2.26 per share indicates a 23.2% year-over-year increase. The Company uses the presented non-GAAP financial measures internally in evaluating the Company's performance and for planning purposes, by allowing management to focus on period-to-period changes in the Company's core business operations, and in determining employee incentive compensation. WebCentenes foundational belief that everyone deserves access to high-quality, affordable healthcare with dignity drives its determination to expand the range of products we offer ST. LOUIS, April 25, 2023 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today its financial results for the first quarter ended March 31, 2023. The Company is providing certain non-GAAP financial measures in this release as the Company believes that these figures are helpful in allowing investors to more accurately assess the ongoing nature of the Company's operations and measure the Company's performance more consistently across periods. The event will begin promptly at 8:30 a.m. (Eastern Time) and end at approximately 12:00 p.m. (Eastern Time). Increases were also driven by costs associated with Medicare marketing, including annual enrollment, and value creation investment spending. These impacts were partially offset by the leveraging of expenses over higher revenues as a result of increased membership. Without limiting the foregoing, forward-looking statements often use words such as "believe," "anticipate," "plan," "expect," "estimate," "intend," "seek," "target," "goal," "may," "will," "would," "could," "should," "can," "continue" and other similar words or expressions (and the negative thereof). These impacts were partially offset by the leveraging of expenses over higher revenues as a result of increased membership. (2) Membership includes ABD, IDD, LTSS, and MMP Duals. Net income of $5.0 billion, an increase of 6.5 percent from first-quarter 2022, and adjusted EBITDA 1 of $11.9 billion, down 1.1 percent year over year. Statement of Operations: Three Months Ended March 31, 2023. (4)Medicaid and Medicare membership includes 1,323,000, 1,291,300, 1,285,600, 1,252,600, and 1,231,500 D-SNP beneficiaries for the periods endingMarch31, 2023, December31, 2022, September30, 2022, June30, 2022, and March31, 2022, respectively. CENTENE CORPORATION SCHEDULES 2023 FIRST QUARTER FINANCIAL RESULTS CONFERENCE CALL View All News Events Annual Stockholder Meeting Wednesday, May 10, 2023 11:00am EDT Add to Calendar Set Email Reminder View All Events 2022 Year in Review #1 Carrier in the nation on the Health Insurance -- Diluted EPS of $2.04; Adjusted Diluted EPS of $2.11 --, --Increases 2023 Full Year Guidance and Updates 2024 Target --. removing social barriers to health, and prioritizing responsible The three and twelve months ended December 31, 2022 include tax expense of $107 million related to the Magellan Specialty Health divestiture. CENTENE CORPORATION REPORTS 2022 RESULTS - Feb 7, 2023 > Press Releases Press Releases CENTENE CORPORATION REPORTS 2022 ST. LOUIS, Feb. 7, 2023 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today its financial results for the fourth quarter and year ended December31, 2022. Centeneoffers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by theHealth Insurance Marketplace, the TRICARE program, and individuals in correctional facilities. Except as may be otherwise required by law, we undertake no obligation to update or revise the forward-looking statements included in this press release, whether as a result of new information, future events, or otherwise, afterthe date hereof. The presentation of this additional non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. The presentation of this additional non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Centeneoffers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by theHealth Insurance Marketplace and the TRICARE program. The Company is unable to provide a reconciliation of its 2022 Adjusted Diluted EPS guidance range to the corresponding GAAP measure without unreasonable effort. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including The Company also contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. The increase was driven by 52% membership growth in the Marketplace business due to strong product positioning and open As of February 7, 2023, the Company has a remaining amount of $2.5 billion available under the stock repurchase program. (In millions, except shares in thousands and per share data in dollars), LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS' EQUITY, Preferred stock, $0.001 par value; authorized 10,000 shares; no shares issued or outstanding at December 31, 2022 and December 31, 2021, Common stock, $0.001 par value; authorized 800,000 shares; 607,847 issued and 550,754 outstanding at December 31, 2022, and 602,704 issued and 582,479 outstanding at December 31, 2021, Accumulated other comprehensive earnings (loss), Treasury stock, at cost (57,093 and 20,225 shares, respectively), Total liabilities, redeemable noncontrolling interests and stockholders' equity, Selling, general and administrative expenses, Loss attributable to noncontrolling interests, Net earnings (loss) attributable to Centene Corporation.

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