Centene (CNC) Climbs 12.5% on Strong FY25 Outlook

We recently published 10 Stocks Defying Wall Street Slump; 8 Hit Fresh Highs. Centene Corp. (NYSE:CNC) is one of the best-performing stocks on Thursday.

Centene rallied for a second day on Wednesday, jumping 12.5 percent to close at $37.34 as investor sentiment was bolstered by a higher growth outlook for the full-year 2025, despite a steep net loss in the third quarter of the year.

In its latest earnings call, Centene Corp. (NYSE:CNC) said it expects adjusted diluted earnings per share (EPS) for the full year to grow by $0.25 to $2 from $1.75 as expected previously.

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Meanwhile, Centene Corp. (NYSE:CNC) swung to a net loss of $6.6 billion in the third quarter of the year from a $713 million net income in the same period last year, pulled down by a $6.95 billion loss from operations, versus a $665 million operating income year-on-year.

On the other hand, total revenues jumped by 18 percent to $49.69 million from $42 million in the same period last year, on the back of a 22 percent jump in premiums to $44 million from $36 million year-on-year.

“Our third quarter results and increased full year outlook demonstrate tangible progress against the near-term milestones we laid out for investors in July,” said Centene Corp. (NYSE:CNC) Chief Executive Officer Sarah London.

“While much work remains ahead, our organization remains focused on driving margin improvement, delivering outcomes for our members, and positioning the business for long-term success,” she added.

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Disclosure: None. This article is originally published at Insider Monkey.