RTTNews | Jul 27, 2021 06:26AM EDT

06:25 Tuesday, July 27, 2021 (RTTNews.com) - Healthcare insurer Centene Corporation (CNC) on Tuesday announced net loss of $535 million or $0.92 per share in the second quarter compared with net income of $1.206 billion or $2.05 per share in the same quarter a year ago.

During the second quarter, the company recorded a legal settlement reserve estimate of $1.25 billion.

Excluding items, earnings of $1.25 per share missed the average estimate of nineteen analysts polled by Thomson Reuters at $1.39 per share. analysts estimates typically exclude special items.

Revenue for the quarter increased 12% to $31.025 billion from $27.712 billion last year. The consensus estimate was for $30.15 billion.

Premium in the second quarter grew to $27.627 billion from $24.745 billion a year ago.

Looking forward to the full-year, revenue is expected in the range of $123.3 billion- $125.3 billion and adjusted EPS to be between $5.05 and $5.35.

Analysts expect the company to report earnings of $5.2 per share on revenue of $120.76 billion for the period.

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