Centene shares up sharply on higher second quarter profits
Written on July 29, 2009
Shares of Centene Corp. were up 11 percent in early afternoon trading after the Clayton-based company reported higher second quarter earnings and raised its estimate for 2009 results.
Centene, an insurer focusing on Medicaid and other government health programs, said net earnings rose to $20.2 million, or 46 cents per share, from $18.2 million, or 41 cents per share. Centene posted revenue of $1.04 billion in the second quarter, up from $824 million a year earlier direct payday loan lenders.
Centene now expects 2009 earnings in the range of $1.88 to $1.96 a share, on revenue of $3.75 billion to $3.85 billion. It had previously forecast earnings of $1.84 to $1.94 a share and revenue of $3.65 billion to $3.78 billion.
Filed in: economics.