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Centene discloses FY'19 guidance, announces stock split

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Centene discloses FY'19 guidance, announces stock split

Centene Corp. has announced its 2019 guidance and affirmed its 2018 outlook.

Also, Centene's board declared a two-for-one split of the insurer's common stock in the form of a 100% stock dividend, expected to be effective in the first quarter of 2019. The split is subject to approval from stockholders to amend Centene's certificate of incorporation to increase the number of authorized common shares.

For 2019, the company expects total revenues of $69.7 billion to $70.5 billion, pre-split EPS of $7.23 to $7.59 and adjusted pre-split EPS of $8.15 to $8.55. Post-split EPS is expected to be $3.62 to $3.80, and adjusted post-split EPS is projected to be $4.08 to $4.28.

Centene also confirmed its 2018 revenue guidance; it still expects total revenues of $59.8 billion to $60.3 billion, pre-split EPS of $4.34 to $4.50 and adjusted pre-split EPS of $6.90 to $7.10.

The S&P Capital IQ consensus normalized EPS estimate for 2019 is $8.36.