St. Louis-based Centene Corporation (NYSE: CNC) made small advances in its stock price, on revealing financial results for the fourth quarter and year ended December 31, 2019, reporting diluted earnings per share (EPS) of $0.49 and $3.14, respectively, and Adjusted Diluted EPS of $0.73 and $4.42, respectively.
In terms of revenue, Centene pulled in $18.8 billion, for the quarter and $74.6 billion for the year.
Said CEO Michael Neidorff, "I am pleased with our performance in the fourth quarter and full-year 2019, resulting in 24% full-year top and bottom line growth. This caps off another successful year for Centene and provides strong, positive momentum as we head into 2020. Having recently closed our acquisition of WellCare, we look ahead to 2020 and beyond with great confidence in the opportunities that lie ahead.
"Our company will have even greater scale and diversification, serving one in every 15 Americans, maintaining our leadership in government-sponsored healthcare. We are happy to welcome our WellCare colleagues to Centene and look forward to delivering on our strategy."
The Company expects to provide consolidated 2020 annual guidance, including WellCare Health Plans, Inc. (WellCare), on Tuesday, March 3.
The Company continues to expect the WellCare acquisition to be no less than break even accretion for the first full year after closing and mid-to-upper single digit accretion in the second full year. Additionally, excluding the effect of the WellCare acquisition, the Company's stand-alone 2020 guidance is unchanged from the guidance provided at our December investor day.
Shares picked up 42 cents to $63.30
