Benzinga | Dec 10, 2021 07:33AM EST

Centene Sees FY24 Adj. EPS $7.50-$7.75; Outlines Value Creation Plan

Value Creation Plan

In addition to the full year 2022 guidance, Centene will highlight additional details with regard to its Value Creation Plan, which is led by the Value Creation Office, comprised of Sarah London - Vice Chairman, Brent Layton - President and Chief Operating Officer and Drew Asher - Executive Vice President and Chief Financial Officer. The three major pillars of the Value Creation Plan include SG&A savings, gross margin improvement and strategic capital allocation. In conjunction with the Value Creation Plan, Centene is reviewing its non-core assets as part of its ongoing portfolio optimization processes, including evaluating strategic alternatives for its international business. In terms of returning additional value to shareholders, share repurchases are expected to play a more meaningful role in 2022 and beyond.

As a result, Centene is targeting a 2024 adjusted diluted earnings per share range of $7.50 to $7.75, with the mid-point representing a 50% increase from the mid-point of the Company's full year 2021 guidance. Centene's outlook reflects the significant earnings growth the Company expects to deliver over the long term.

Investors can access the full Centene Investor Day event and presentation online at: https://investors.centene.com/news-events/events-presentations.