CNC Q1 2022 Earnings Report — Centene Corporation Revenue & Financial Results | Market Cap Arena

Centene CorporationCNC

Q1 2022 Earnings

Reported April 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2022	Q4 2021	Q1 2021	QoQ Change	YoY Change
Revenue	$37.2B	—	$30.0B	—	24.0%
Op. Income	$1.3B	—	$1.1B	—	18.9%
Gross Margin	11.7%	—	12.1%	—	-0.4pp
Net Margin	2.3%	—	2.3%	—	-0.0pp
EPS (Diluted)	$1.44	—	$1.19	—	21.0%
Free Cash Flow	$909M	—	-$144M	—	731.3%

Revenue Flow

Item	Amount
REVENUE	$37.2B
Cost of Revenue	$32.8B
GROSS PROFIT	$4.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.7B
SG&A Expenses	$2.7B
Other Expenses	$355M
Operating Expenses	$3.1B
Cost & Expenses	$35.9B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$160M
Other Income/Expenses	-$105M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$296M
Net Income from Continuing Ops	$852M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$849M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$849M
D&A	$390M
EBIT	$1.3B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$37.2B
Cost of Revenue	$32.8B
GROSS PROFIT	$4.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$2.7B
SG&A Expenses	$2.7B
Other Expenses	$355M
Operating Expenses	$3.1B
Cost & Expenses	$35.9B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$160M
Other Income/Expenses	-$105M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$296M
Net Income from Continuing Ops	$852M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$849M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$849M
D&A	$390M
EBIT	$1.3B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$852M
Depreciation & Amortization	$390M
Stock-Based Compensation	$70M
Deferred Income Tax	$12M
Other Non-Cash Items	$19M
Change in Working Capital	-$192M
OPERATING CASH FLOW	$1.2B
Capital Expenditure	-$242M
Acquisitions (Net)	-$1.5B
Purchases of Investments	-$1.7B
Sales/Maturities of Investments	$1.0B
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$2.4B
Net Debt Issuance	-$426M
Common Stock Repurchased	-$71M
Common Dividends Paid	$0
Other Financing Activities	-$1M
NET CASH FROM FINANCING	-$498M
FREE CASH FLOW	$909M
Net Change in Cash	-$1.9B

Balance Sheet

Item	Amount
Cash & Equivalents	$11.2B
Short-Term Investments	$1.7B
Net Receivables	$16.2B
Inventory	$0
Other Current Assets	$2.0B
TOTAL CURRENT ASSETS	$31.1B
PP&E (Net)	$7.1B
Goodwill	$20.9B
Intangible Assets	$8.1B
Long-Term Investments	$14.1B
Tax Assets	$0
Other Non-Current Assets	$1.5B
TOTAL NON-CURRENT ASSETS	$51.8B
TOTAL ASSETS	$82.9B
Account Payables	$9.8B
Short-Term Debt	$292M
Deferred Revenue	$526M
Other Current Liabilities	$16.3B
TOTAL CURRENT LIABILITIES	$29.7B
Long-Term Debt	$18.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.3B
Other Non-Current Liabilities	$2.3B
TOTAL NON-CURRENT LIABILITIES	$25.8B
TOTAL LIABILITIES	$55.5B
Common Stock	$1M
Additional Paid-In Capital	$19.8B
Retained Earnings	$9.0B
Treasury Stock	-$1.2B
Accum. Other Comp. Income	-$485M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$27.2B
Minority Interest	$261M
TOTAL EQUITY	$27.4B
TOTAL LIABILITIES & EQUITY	$82.9B
Total Debt	$22.7B
Net Debt	$11.4B