Centene Corporation has reported strong first quarter 2023 profits, with profits of $1.1 billion, up from $849 million from the prior year quarter. Centene also reported strong revenue growth, with revenues of 38.9 billion in the first quarter of 2023, up from $37.2 billion in the prior year quarter.
Centene’s membership was also sharply up. At the end of the first quarter, Centene reported total membership of 28,455,500, up from 26,238,200 in the prior year quarter. Centene primarily offers managed Medicare and Medicaid products. On its website, Centene states that it serves 1 in 15 individuals across all 50 states.
In a news release announcing its earnings, Centene CEO Sarah M. London characterized Centene’s first quarter results as “strong,” stating: “From this baseline, we remain confident in our ability to deliver 12-15% long-term adjusted earnings compound annual growth in the back half of the decade.”
Centene’s earnings release is linked here.