Centene Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, total revenues were $11,954 million an increase of 10% against $10,897 million of prior year period. Earnings from operations were $438 million against $377 million of prior year period. Earnings from continuing operations, before income tax expense was $421 million compared to $357 million a year ago. Earnings from continuing operations, net of income tax expense was $252 million or $1.44 per diluted share compared to $170 million or $0.98 per diluted share a year ago. Net earnings attributable to the company were $254 million or $1.44 per diluted share against $170 million or $0.97 per diluted share of prior year period. Operating cash outflow was $306 million for the second quarter. Adjusted net earnings from continuing operations were $280 million compared to $225 million a year ago. Adjusted Diluted EPS from continuing operations were $2.71 compared to $2.11 a year ago. The increase over prior year was primarily a result of growth in the Health Insurance Marketplace business in 2017 and expansions and new programs in many of its states in 2016 and 2017, partially offset by lower membership in the commercial business in California as a result of margin improvement actions taken last year, the moratorium of the Health Insurer Fee in 2017, and lower specialty pharmacy revenues. Effective income tax rate was 40.1% in the second quarter of 2017. The lower tax rate compared to the prior year is due to the 1-year moratorium of the health insurer fee. Operating cash flows for the second quarter was negatively affected by approximately $750 million of delayed payments, primarily from several of their states as a result of their fiscal year-ends.

For the six months, the company's total revenues were $23,678 million against $17,850 million of prior year period. Earnings from operations were $678 million against $397 million of prior year period. Earnings from continuing operations, before income tax expense was $640 million compared to $359 million a year ago. Earnings from continuing operations, net of income tax expense was $384 million or $2.23 per diluted share compared to $156 million or $1.02 per diluted share a year ago. Net earnings attributable to the company were $393 million or $2.23 per diluted share against $154 million or $1.01 per diluted share of prior year period. Net cash from operating activities was $942 million compared to net cash used in operating activities of $223 million a year ago. Capital expenditures were $181 million compared to $94 million a year ago. Adjusted net earnings from continuing operations were $280 million compared to $225 million a year ago. Adjusted Diluted EPS from continuing operations were $1.59 compared to $1.29 a year ago.

The company provided earning guidance for the full year 2017. The company expects total revenues in the range of $46.4 billion to $47.2 billion, GAAP diluted EPS in the range of $3.96 to $4.29, adjusted diluted EPS in the range of $4.70 to $5.06, effective tax rate in the range of 39.0% to 41.0%.