Centene Corp. announced its 2020 guidance and updated its 2019 outlook.

For 2020, the company expects total revenues of $78.6 billion to $79.4 billion, EPS of $4.17 to $4.33, and adjusted EPS of $4.64 to $4.84.

The company said the 2020 outlook excludes the pending acquisition of WellCare Health Plans Inc., associated one-time integration costs, the related financing and closing costs, and the impact of previously announced divestitures. The guidance, however, includes acquisition-related expenses of $15 million to $25 million for legal and integration planning expenses. It also reflects a delay in the North Carolina start date to Oct. 1, 2020, from Feb. 1, 2020, which results in a decrease of revenues of approximately $500 million and EPS of approximately 6 cents.

Centene also affirmed its 2019 total revenues guidance in the range of $73.6 billion to $74.2 billion and adjusted EPS guidance of approximately $4.29 to $4.49. The company decreased its 2019 EPS guidance by 3 cents to a range of roughly $3.01 to $3.18, reflecting the net carrying cost of the recently completed $7.0 billion issuance of its senior notes.

The S&P Global Market Intelligence consensus normalized EPS estimates are $4.42 for 2019 and $4.84 for 2020.