Centene records $699M profit in Q1

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Centene Corp. saw its revenue and profit climb in the first quarter of fiscal year 2021 as the insurer continues to benefit from its WellCare Health Plans deal and lower medical use during the pandemic. 

Three things to know: 

1. Centene recorded revenues of $30 billion in the first quarter of 2021, up 15 percent from the same period a year earlier.

2. Centene ended the quarter with a $699 million surplus, compared to $46 million in the same period last year.

3. The insurer's managed care membership has grown to 25.1 million as of March 31.

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