Centene Corporation has recently released its 10-K report, providing a detailed look at its financial performance and operational highlights for the year ended December 31, 2024. The company operates as a healthcare enterprise, offering programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. Centene's business segments include Medicaid, Medicare, Commercial, and Others, providing a wide range of health plan coverage and healthcare products.
In 2024, Centene reported a year-end membership of 28.6 million, representing a 4% increase over 2023. Total revenues reached $163.1 billion, marking a 6% growth year-over-year. The Health Benefits Ratio (HBR) for 2024 stood at 88.3%, compared to 87.7% in 2023, while the Selling, General, and Administrative (SG&A) expense ratio was 8.5% for 2024, down from 9.0% in 2023. Adjusted diluted earnings per share (EPS) for 2024 were $7.17, a 7% increase from $6.68 in 2023.
Centene's Medicaid segment saw several key developments in 2024, including the commencement of new contracts in Michigan, Texas, and New Hampshire, as well as the conclusion of services in New Mexico. These initiatives reflect the company's commitment to providing managed care services to diverse populations across different states.
The company also underwent a series of divestitures in 2024, including the sale of Magellan Specialty Health, Circle Health Group, and Collaborative Health Systems, resulting in gains and impairments that impacted its financial performance.
Looking ahead, Centene remains focused on delivering access to high-quality, affordable healthcare to its members, while closely monitoring regulatory trends and uncertainties, such as changes in Medicare PDPs and Medicaid eligibility. The company's local approach, combined with its scale and expertise, positions it well to navigate industry changes and continue providing cost-effective services to its government partners and members. As a result of these announcements, the company's shares have moved 2.6% on the market, and are now trading at a price of $57.38. If you want to know more, read the company's complete 10-K report here.
