Adjusted EPS Exceeds Expectations
Centene reported third quarter adjusted EPS of $0.50, ahead of previous expectations, and increased the full-year adjusted EPS forecast to at least $2, up from $1.75.
Medicaid HBR Improvement
Medicaid HBR improved by 150 basis points sequentially, aided by a $150 million positive revenue adjustment in Florida, reflecting improvements in rate advocacy and program management.
Medicare Segment Consistency
Medicare segment, including Medicare Advantage and PDP, performed in line with expectations, with progress in Star ratings and stable HBR at 94.3%.
SG&A Efficiency
Adjusted SG&A expense ratio was strong at 7.0% in Q3 compared to 8.3% last year, driven by growth in PDP revenue and disciplined expense management.