Centene (CNC) Cuts FY12 EPS Outlook; Cites Negative Kentucky Health, Texas Health Results

Centene Corporation (NYSE: CNC) is revising its 2012 guidance to $1.45 to $1.65 per diluted share, from the previously announced range of $2.64 to $2.84 per diluted share.

The Street is looking for EPS of 2.68.

The revised guidance range reflects negative financial results in May for our Kentucky Health Plan and the Hidalgo service area in our Texas Health Plan, as well as in the Celtic individual health business. Albeit at lower levels, the above items are anticipated to impact the financial results for the remainder of 2012, and the estimated impact is reflected in the revised guidance for 2012. The balance of Centene's products and markets continue to perform as expected. Centene currently estimates it will report a loss for the second quarter of 2012, but expects the Company to return to profitability in the third quarter of 2012.

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