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July 2022
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January 2022
Contact: | Investor Relations Inquiries | Media Inquiries | ||||||
Jennifer Gilligan | Marcela Manjarrez-Hawn | |||||||
Senior Vice President, Finance & Investor Relations | Executive Vice President, Chief Communications Officer | |||||||
(212) 549-1306 | (314) 445-0790 |
Total revenues (in millions) | $ | 37,185 | |||
Premium and service revenues (in millions) | $ | 34,232 | |||
Health benefits ratio | 87.3 | % | |||
SG&A expense ratio | 8.0 | % | |||
Adjusted SG&A expense ratio (1) | 7.7 | % | |||
GAAP diluted EPS | $ | 1.44 | |||
Adjusted diluted EPS (1) | $ | 1.83 | |||
Total cash flow provided by operations (in millions) | $ | 1,151 | |||
(1) A full reconciliation of the adjusted diluted EPS and adjusted SG&A expenses is shown beginning on page 5 of this release. |
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Centene Corp.
Centene Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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Value Creation Plan As introduced in June 2021, our Value Creation Plan is designed to drive margin expansion by leveraging our scale and generating sustainable profitable growth.
We intend to continue to evaluate strategic actions in connection with our Value Creation Plan, targeting initiatives to improve productivity, efficiencies and reduced organizational costs, as well as capital deployment activities, including share repurchases, portfolio optimization and the evaluation of refinancing opportunities.
Three Months Ended March 31, 2022 2021 Net cash provided by operating activities $ 1,151 $ 43 Net cash used in investing activities (2,401) (607) Net cash used in financing activities (498) (73) Effect of exchange rate changes on cash and cash equivalents 33 (16) Net decrease in cash, cash equivalents, and restricted cash and cash equivalents $ (1,715) $ (653) Cash Flows Provided by Operating Activities Normal operations are funded primarily through operating cash flows and borrowings under our revolving credit facility.
In February 2021, our Board of Directors approved an increase in our existing share repurchase program for our common stock.
With the increase, we are authorized to repurchase up to $1.0 billion of shares of our common stock, inclusive of the previously approved stock repurchase program.
The SG&A expense ratio increased...Read more
The Magellan Acquisition enables us...Read more
In August 2021, our Ohio...Read more
The first pillar, SG&A expense...Read more
Interest expense decreased by $10...Read more
The second pillar, gross margin...Read more
From an operational perspective, we...Read more
We continue to watch external...Read more
Cash flows provided by operations...Read more
Results of operations depend on...Read more
For the first quarter of...Read more
For the first quarter of...Read more
We are assessing our portfolio...Read more
Specialty Services Total revenues increased...Read more
2021: (a) Debt extinguishment costs...Read more
As of March 31, 2022,...Read more
Total revenues of $37.2 billion,...Read more
Income Tax Expense For the...Read more
Premium and service revenues of...Read more
We expect the following items...Read more
Cost of Services Cost of...Read more
Over 50% of our Medicare...Read more
Based on our operating plan,...Read more
Revenue growth was driven by...Read more
Segment Results The following table...Read more
The outlook for the remainder...Read more
This expertise has allowed us...Read more
In addition, we may strategically...Read more
The maximum amount of dividends...Read more
As of March 31, 2022,...Read more
The HBR for the first...Read more
While we are currently in...Read more
In addition to creating shareholder...Read more
For the three months ended...Read more
Other Income (Expense) The following...Read more
In February 2021, we tendered...Read more
In January 2022, we acquired...Read more
We may be negatively impacted...Read more
We take a local approach...Read more
Unregulated cash was substantially reduced...Read more
Unregulated cash was substantially reduced...Read more
Earnings from operations decreased $82...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Centene Corp provided additional information to their SEC Filing as exhibits
Ticker: CNC
CIK: 1071739
Form Type: 10-Q Quarterly Report
Accession Number: 0001071739-22-000177
Submitted to the SEC: Mon Apr 25 2022 8:49:46 PM EST
Accepted by the SEC: Tue Apr 26 2022
Period: Thursday, March 31, 2022
Industry: Hospital And Medical Service Plans