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Health insurer Centene's profit beats estimates

Tuesday, 22 Oct 2013 | 6:26 AM ET

Oct 22 (Reuters) - Health insurer Centene Corp reported a better-than-expected profit for the third quarter, partly due to a recent contract win in Kansas, and raised its full-year forecast for premium and services revenue.

Centene said it now expected full-year premium and services revenue to be $10.6 billion-$10.8 billion compared with $10.3 billion-$10.6 billion it forecast in July.

Net earnings attributable to Centene rose to $49.4 million, or 87 cents per share, in the quarter ended Sept. 30 from $3.8 million, or 7 cents per share, a year earlier.

Excluding items, the company earned 88 cents per share. Analysts had expected 84 cents, according to Thomson Reuters I/B/E/S.

Premium and services revenue rose 24 percent to $2.73 billion.

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