Centene Corporation - CNC STOCK NEWS

Centene Corporation (NYSE: CNC) reported a strong financial performance for Q1 2023, with a GAAP diluted EPS of $2.04 and adjusted diluted EPS of $2.11. The company's total revenues reached $38.9 billion, with premium and service revenues at $35.0 billion, reflecting a 2% year-over-year growth. The health benefits ratio stood at 87.0%, driven by disciplined pricing strategies and favorable Medicare results. Centene increased its full-year 2023 adjusted EPS guidance to at least $6.40 and set a target for 2024 EPS at over $6.60, anticipating a compound annual growth of 12-15% in the latter half of the decade. The company also announced significant operational cash flow of $4.3 billion, while executing share repurchases totaling 4.9 million shares for $377 million in Q1.

Health Net is assisting members in Contra Costa, Riverside, San Diego, and Yolo counties during the declared state of emergency due to winter storms. Key measures include providing emergency supplies of prescription medications, access to telehealth services at no cost, and mental health support through MHN's hotline available 24/7. Members can refill prescriptions at their original pharmacies or call for assistance if closed. Healthcare providers may contact Health Net for emergency prescription refill guidelines and approvals. The company, a subsidiary of Centene Corporation (NYSE: CNC), emphasizes the importance of maintaining access to healthcare services during this crisis.

Centene Corporation (NYSE: CNC) announced the appointment of Anika Gardenhire as its new Chief Customer Experience Officer (CXO) on April 20, 2023. In this role, Gardenhire will ensure that the voices of Centene's 26 million members are integrated into the company's decision-making processes. With a background in nursing and digital transformation, she aims to enhance customer experiences and health outcomes. CEO Sarah M. London emphasized the importance of customer experience in delivering value. Gardenhire's experience includes prior leadership roles at Centene and Intermountain Healthcare. Centene remains focused on offering high-quality, cost-effective healthcare solutions for under-insured and uninsured individuals.

Canada Nickel Company announced positive preliminary drill results from its first four holes at the Midlothian Property, located 70 km south-southeast of Timmins, Ontario. The drilling program, totaling 1,548 meters, intersected significant mineralized dunite over a 2-kilometer strike length. Notably, the preliminary mineralogy samples revealed high concentrations of awaruite (nickel-iron alloy) and brucite, which is crucial for carbon sequestration. The findings indicate that the brucite content exceeds three times that found at the flagship Crawford Project. This discovery adds to Canada Nickel's exploration success in the Timmins Nickel District. The company aims to develop processes for producing net-zero carbon nickel and is evaluating additional drilling programs across its regional portfolio.

On April 5, 2023, Canada Nickel Company announced the appointment of Cutfield Freeman & Co. as project debt advisors to assist with financing for the Crawford Nickel Sulphide project. The company also revealed a change in its Board of Directors, with David Smith assuming the role of Chairman, effective April 7, 2023. This restructuring aims to enhance corporate governance practices. Smith, who recently retired as EVP Finance and CFO at Agnico Eagle Mines, brings extensive industry experience. This move aligns with Canada Nickel's strategy to advance its flagship project, hinting at a push towards becoming a significant player in the nickel market.

Superior HealthPlan's STAR+PLUS Medicare-Medicaid Plan (MMP) received a remarkable score of 90 out of 100 in a recent survey by the Centers for Medicare & Medicaid Services (CMS). This achievement places the plan among the top four nationally and highlights its commitment to quality healthcare. For the third consecutive year, Superior ranked in the top 10 plans in the country, demonstrating its dedication to serving over 2 million members across Texas. The CMS survey reflects consumer feedback, emphasizing accessibility and quality of care. The STAR+PLUS MMP serves eligible individuals in Bexar, Dallas, and Hidalgo Counties, focusing on those with disabilities and low-income resources.

Centene Corporation (NYSE: CNC) announced leadership changes effective March 31, 2023. Fred Eppinger will become Chairman of the Board, succeeding James Dallas, who will remain on the Board. Wayne DeVeydt has been appointed Chairman of the Audit and Compliance Committee. Board members Orlando Ayala, Richard Gephardt, and William Trubeck will retire on May 10, 2023. Eppinger brings over 30 years of industry experience and is focused on enhancing shareholder value while fulfilling Centene's mission to serve underserved communities. CEO Sarah London expressed confidence in Eppinger's leadership for long-term growth.