Centene Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Revises Earnings Guidance for the Year 2018
For the year, total revenues were $48,382 million against $40,607 million a year ago. Earnings from operations were $1,199 million against $1,260 million a year ago. Earnings from continuing operations, before income tax expense were $1,134 million against $1,157 million a year ago. Net earnings attributable to Centene Corporation were $828 million against $562 million a year ago. Net earnings per diluted common share attributable to Centene Corporation were $4.69 against $3.43 a year ago. Net cash provided by operating activities was $1,489 million against $1,851 million a year ago. Capital expenditures were $422 million against $306 million a year ago. Adjusted Diluted EPS was $5.03 compared to $4.43 for the full year 2016. Adjusted net earnings from continuing operations were $889 million against $727 million a year ago.
The company revised earnings guidance for the year 2018. The company now expects total revenues of $60.6 million - $61.4 million compared to previous guidance of $60.0 million - $60.8 million; GAAP diluted EPS of $5.91 - $6.25 compared to previous guidance of $4.63 - $4.97; adjusted Diluted EPS of $6.95 - $7.35 compared to previous guidance of $5.47 - $5.87. Adjusted Diluted EPS excludes amortization of acquired intangible assets of $0.79 to $0.81 per diluted share and acquisition related expenses of $0.25 to $0.29 per diluted share. The company expects effective tax rate of 31.0% - 33.0%.