CNC FY 2022 Earnings Report — Centene Corporation Revenue & Financial Results | Market Cap Arena

Centene CorporationCNC

FY 2022 Earnings

Reported February 21, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$144.5B	—	—	—	—
Op. Income	$1.3B	—	—	—	—
Gross Margin	11.5%	—	—	—	—
Net Margin	0.8%	—	—	—	—
EPS (Diluted)	$2.07	—	—	—	—
Free Cash Flow	$5.3B	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$144.5B
Cost of Revenue	$127.9B
GROSS PROFIT	$16.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$11.6B
Other Expenses	$3.7B
Operating Expenses	$15.3B
Cost & Expenses	$143.2B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$665M
Other Income/Expenses	$644M
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$760M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$1.4B
EBIT	$2.6B
EBITDA	$4.1B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$144.5B
Cost of Revenue	$127.9B
GROSS PROFIT	$16.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$11.6B
Other Expenses	$3.7B
Operating Expenses	$15.3B
Cost & Expenses	$143.2B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$665M
Other Income/Expenses	$644M
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$760M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$1.4B
EBIT	$2.6B
EBITDA	$4.1B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$1.6B
Stock-Based Compensation	$234M
Deferred Income Tax	-$631M
Other Non-Cash Items	$1.7B
Change in Working Capital	$2.2B
OPERATING CASH FLOW	$6.3B
Capital Expenditure	-$1.0B
Acquisitions (Net)	$1.0B
Purchases of Investments	-$6.7B
Sales/Maturities of Investments	$3.8B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$2.9B
Net Debt Issuance	-$1.1B
Common Stock Repurchased	-$3.1B
Common Dividends Paid	$0
Other Financing Activities	-$41M
NET CASH FROM FINANCING	-$4.2B
FREE CASH FLOW	$5.3B
Net Change in Cash	-$1.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$12.1B
Short-Term Investments	$2.3B
Net Receivables	$13.3B
Inventory	$0
Other Current Assets	$2.5B
TOTAL CURRENT ASSETS	$30.1B
PP&E (Net)	$5.0B
Goodwill	$18.8B
Intangible Assets	$6.9B
Long-Term Investments	$14.7B
Tax Assets	$0
Other Non-Current Assets	$1.3B
TOTAL NON-CURRENT ASSETS	$46.7B
TOTAL ASSETS	$76.9B
Account Payables	$9.3B
Short-Term Debt	$82M
Deferred Revenue	$478M
Other Current Liabilities	$16.7B
TOTAL CURRENT LIABILITIES	$28.5B
Long-Term Debt	$17.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$615M
Other Non-Current Liabilities	$2.5B
TOTAL NON-CURRENT LIABILITIES	$24.2B
TOTAL LIABILITIES	$52.6B
Common Stock	$1M
Additional Paid-In Capital	$20.1B
Retained Earnings	$9.3B
Treasury Stock	-$4.2B
Accum. Other Comp. Income	-$1.1B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$24.1B
Minority Interest	$180M
TOTAL EQUITY	$24.2B
TOTAL LIABILITIES & EQUITY	$76.9B
Total Debt	$21.3B
Net Debt	$9.3B