Centene Corporation (NYSE: CNC) announced today its 2011 financial guidance. The discussions below are in the context of continuing operations and all financial ratios exclude premium taxes.
For its 2011 fiscal year, the Company expects:
- Premium and Service revenue in the range of $4.9 billion to $5.1 billion.
- Earnings per diluted share of approximately $2.00 to $2.10.
- Consolidated Health Benefits Ratio of approximately 84% to 85% which is within our long-term targeted range of 84% to 86%.
- Consolidated G&A expense ratio in the range of 12.0% to 12.5%.
- Effective tax rate, excluding non-controlling interest, of approximately 38.5% and diluted shares outstanding of approximately 51.5 million.
- Days in claims payable between 43 and 48 as we continue to pay claims faster through improvements in our operations.
Centene reaffirms its 2010 financial guidance in the previously announced ranges. Full year 2010 earnings will be reported on February 8th, 2011, with the conference call at 8:30 AM (Eastern Time).
Centene will host an investor meeting, including a question-and-answer session, to discuss the details of its guidance. The meeting will begin promptly today at 8:30 AM (Eastern Time) and end approximately at 10:30 AM (Eastern Time). Michael F. Neidorff, Chairman and Chief Executive Officer, and William N. Scheffel, Executive Vice President, Chief Financial Officer and Treasurer, of Centene Corporation will host the meeting, which also will be webcast live before an audience of investors at the New York Helmsley Hotel on East 42nd Street in New York City.
Investors and other interested parties who are unable to attend in person are invited to listen to the investor meeting via a live audio webcast on the Company's website at www.centene.com, under the Investors section. In addition, questions can be submitted via e-mail at: [email protected].