Centene reports revenue, profit growth since Q3 2020

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Centene reported consistent growth and an optimistic outlook on the year in its third quarter earnings report, released Oct. 26. 

Here are five things to know:

1. Total revenue grew 11 percent year over year to $32.4 billion. The company said the growth was due to Medicaid and Medicare membership development and kickstarting two key North Carolina contracts.

2. The insurer reported $584 million in profits, up from $568 million in 2020's third quarter. 

3. Centene's managed care membership grew by 1.4 million lives to a total of 26.5 million, a 5 percent increase compared to the third quarter of 2020. 

4. Centene's health benefits ratio grew to 88.1 percent this quarter, up from 86.4 percent at the same time last year.

5. Centene raised its outlook on the year, reflecting its July acquisition of United Kingdom-based Circle Health. The company now expects annual revenue to reach $126.4 billion on the high end.

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