Centene Boosts 2025 Earnings Forecast and Expands $4B Stock Buyback Program – 2025 Update
Centene has upgraded its 2025 earnings outlook and expanded its stock repurchase plan by $4 billion, driven by effective cost-cutting and strong operational execution. Discover the latest on Centene's financial growth and strategic moves in 2025.
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Highlights
- Centene elevates its 2024 earnings per share forecast and confirms 2023 guidance amid successful cost reduction efforts.
- CEO Sarah London credits the improved outlook to robust operational momentum and effective implementation of the strategic plan.
- The company authorizes an additional $4 billion increase to its stock buyback program, enhancing shareholder value.
Shares of Centene (CNC) surged nearly 3% following the announcement of an enhanced earnings outlook for fiscal 2024 and an expanded stock repurchase initiative. The updated forecast now anticipates earnings per share exceeding $6.70, up from the prior estimate above $6.60. Revenue projections range between $142.5 billion and $145.5 billion, surpassing analyst expectations. The 2023 EPS guidance remains steady at a minimum of $6.60, with premium and services revenue forecasted between $137.5 billion and $139.5 billion.
CEO Sarah London highlighted the company’s continued commitment to its strategic plan, stating, "Our strong operational performance and strategic execution position Centene for sustained long-term earnings growth and significant shareholder value creation."
Additionally, the board approved a $4 billion increase to the existing share repurchase program, supplementing the $1.2 billion remaining, signaling confidence in the company’s future.
Following these disclosures, Centene's stock closed at $76.34, marking a 2.8% gain on the day. Despite this positive momentum, the stock has experienced a 4.3% decline year-to-date in 2023.
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