Last10K.com

Centene Corp (CNC) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Centene Corp

CIK: 1071739 Ticker: CNC


    
Exhibit 99.1
centenelogoa37.jpg
N E W S R E L E A S E                                                                                
Contact:
Investor Relations Inquiries
 
Edmund E. Kroll, Jr.
 
Senior Vice President, Finance & Investor Relations
 
(212) 759-0382
 
 
 
Media Inquiries
 
Marcela Manjarrez-Hawn
 
Senior Vice President and Chief Communications Officer
 
(314) 445-0790

FOR IMMEDIATE RELEASE

CENTENE CORPORATION REPORTS 2019 RESULTS
-- 2019 Full Year Diluted EPS of $3.14; Adjusted Diluted EPS of $4.42 --

ST. LOUIS, MISSOURI (February 4, 2020) -- Centene Corporation (NYSE: CNC) announced today its financial results for the fourth quarter and year ended December 31, 2019, reporting diluted earnings per share (EPS) of $0.49 and $3.14, respectively, and Adjusted Diluted EPS of $0.73 and $4.42, respectively.

2020 Outlook

The Company expects to provide consolidated 2020 annual guidance, including WellCare Health Plans, Inc. (WellCare), on Tuesday, March 3, 2020, with a conference call at 8:30 AM (Eastern Time) on Wednesday, March 4, 2020. The Company continues to expect the WellCare acquisition to be no less than break even accretion for the first full year after closing and mid-to-upper single digit accretion in the second full year. Additionally, excluding the effect of the WellCare acquisition, the Company's stand-alone 2020 guidance is unchanged from the guidance provided at our December investor day.

In summary, the 2019 fourth quarter and full year results were as follows:
2019 Results
 
 
Q4
 
Full Year
 
Total revenues (in millions)
$
18,863

 
$
74,639

 
Health benefits ratio
88.4
%
 
87.3
%
 
SG&A expense ratio
9.6
%
 
9.3
%
 
GAAP diluted EPS
$
0.49

 
$
3.14

 
Adjusted Diluted EPS (1)
$
0.73

 
$
4.42

 
Total cash flow (used in) provided by operations (in millions)
$
(651
)
 
$
1,483

 
 
 
 
 
 
(1) A full reconciliation of Adjusted Diluted EPS is shown beginning on page seven of this release.
 

"I am pleased with our performance in the fourth quarter and full year 2019, resulting in 24% full year top and bottom line growth. This caps off another successful year for Centene and provides strong, positive momentum as we head into 2020. Having recently closed our acquisition of WellCare, we look ahead to 2020 and beyond with great confidence in the opportunities that lie ahead. Our company will have even greater scale and diversification, serving 1 in every 15 Americans, maintaining our leadership in government-sponsored healthcare. We are happy to welcome our WellCare colleagues to Centene and look forward to delivering on our strategy," said Michael F. Neidorff, Centene's Chairman, President and Chief Executive Officer.


1

The following information was filed by Centene Corp (CNC) on Tuesday, February 4, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Centene Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Centene Corp.

Continue

Assess how Centene Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Centene Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
M & A
Revenue
Legal
Other
Filter Subcategory:
All
Income
Expense
Product
Earnings
Cash Flow
Shares
Geography
Debt
Dividend
Other
Inside Centene Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Earnings
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Acquisitions
Acquisitions (Tables)
Acquisitions - Narrative (Details)
Acquisitions - Proforma Information (Unaudited) (Details)
Acquisitions - Schedule Of Preliminary Allocation Of Fair Value Of Assets Acquired And Liabilities Assumed (Details)
Affordable Care Act
Affordable Care Act (Details)
Affordable Care Act (Tables)
Commitments
Commitments (Details)
Condensed Financial Information Of Registrant
Condensed Financial Information Of Registrant (Tables)
Condensed Financial Information Of Registrant - Condensed Balance Sheets (Details)
Condensed Financial Information Of Registrant - Condensed Balance Sheets Additional (Details)
Condensed Financial Information Of Registrant - Condensed Statements Of Cash Flows (Details)
Condensed Financial Information Of Registrant - Condensed Statements Of Operations (Details)
Contingencies
Debt
Debt (Tables)
Debt - Construction Loan (Details)
Debt - Interest Rate Swaps (Details)
Debt - Letters Of Credit &Amp; Surety Bonds (Details)
Debt - Mortgage Notes Payable (Details)
Debt - Revolving Credit Facility And Term Loan (Details)
Debt - Schedule Of Aggregate Maturities Of Debt (Details)
Debt - Schedule Of Debt (Details)
Debt - Senior Notes (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Fair Value Measurements By Level For Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Fair Value Measurements - Narrative (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Narrative (Details)
Goodwill And Intangible Assets - Schedule Of Changes In Goodwill By Operating Segment (Details)
Goodwill And Intangible Assets - Schedule Of Intangible Assets (Details)
Goodwill And Intangible Assets -Schedule Of Future Amortization Expenses (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Consolidated Income Tax Expense (Details)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of The Tax Provision At The U.S. Federal Statutory Rate To The Provision For Income Taxes (Details)
Income Taxes - Schedule Of Reserve For Uncertain Tax Positions That May Be Challenged (Details)
Income Taxes - Tax Effects Of Temporary Differences Which Give Rise To Deferred Tax Assets And Liabilities (Details)
Leases
Leases (Tables)
Leases - Future Minimum Lease Payments Under Topic 840 (Details)
Leases - Narrative (Details)
Leases - Operating Lease Maturity (Details)
Leases - Rou Assets And Liabilities (Details)
Medical Claims Liability
Medical Claims Liability (Tables)
Medical Claims Liability - Cumulative Incurred And Paid Claims (Details)
Medical Claims Liability - Incurred Claims And Allocated Claims Adjustment Expenses (Details)
Medical Claims Liability - Narrative (Details)
Medical Claims Liability - Schedule Of Change In Medical Claims Liability (Details)
Organization And Operations
Organization And Operations (Details)
Property, Software And Equipment
Property, Software And Equipment (Details)
Property, Software And Equipment (Tables)
Quarterly Selected Financial Information
Quarterly Selected Financial Information (Details)
Quarterly Selected Financial Information (Tables)
Retirement Plan
Retirement Plan (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Short-Term And Long-Term Investments, Restricted Deposits
Short-Term And Long-Term Investments, Restricted Deposits (Tables)
Short-Term And Long-Term Investments, Restricted Deposits - By Investment Type (Details)
Short-Term And Long-Term Investments, Restricted Deposits - Contractual Maturities Of Short-Term And Long-Term Investments And Restricted Deposits (Details)
Short-Term And Long-Term Investments, Restricted Deposits - Fair Value Of Available-For-Sale Investments In A Continuous Unrealized Loss Position (Details)
Short-Term And Long-Term Investments, Restricted Deposits - Narrative (Details)
Statutory Capital Requirements And Dividend Restrictions
Statutory Capital Requirements And Dividend Restrictions (Details)
Stock Incentive Plans
Stock Incentive Plans (Tables)
Stock Incentive Plans - Narrative (Details)
Stock Incentive Plans - Non-Vested Restricted Stock And Restricted Stock (Details)
Stockholders' Equity
Stockholders' Equity (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Restricted Deposits (Details)
Summary Of Significant Accounting Policies - Schedule Of Allowance For Uncollectible Accounts (Details)
Summary Of Significant Accounting Policies - Schedule Of Amortization Period For Intangible Assets (Details)
Summary Of Significant Accounting Policies - Schedule Of Property, Software And Equipment Depreciation Periods (Details)
Summary Of Significant Accounting Policies - Significant Customers (Details)
Ticker: CNC
CIK: 1071739
Form Type: 10-K Annual Report
Accession Number: 0001071739-20-000060
Submitted to the SEC: Tue Feb 18 2020 5:17:30 PM EST
Accepted by the SEC: Tue Feb 18 2020
Period: Tuesday, December 31, 2019
Industry: Hospital And Medical Service Plans

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/cnc/0001071739-20-000060.htm