Centene Corporation (NYSE: CNC) reported its financial results for the fourth quarter and year ended December 31st, 2020. The company reported a diluted loss in earnings per share of USD 0.02 and USD 3.12 and adjusted diluted EPS of USD 0.46 and USD 5.00 respectively. Health benefits ratio of 88.4% for the fourth quarter of 2020 as selling, general and administrative expense ratio reached 10.3% for the fourth quarter and 9.5% for the full year 2020. Operating cash flow summed up to USD 3 Billion for the fourth quarter and USD 5.5 Billion for the full year 2020.
“2020 was a year when Centene demonstrated the strength of our diversified enterprise and our operational excellence as we delivered strong top- and bottom line growth while supporting all our stakeholders.” said Michael F. Neidorff, Chairman, President and Chief Executive Officer of Centene.
“Building on our leadership position in government-sponsored healthcare, we are focused on delivering the next phase of growth through product and geographic expansion, advancing our technology strategy and further integrating our diverse capabilities. We are pleased to have been selected for two statewide managed care contracts in Oklahoma, and through the recently announced acquisition of Magellan, our goal is to enhance our ability to provide comprehensive care to the most vulnerable populations. Looking ahead, we have great confidence in our ability to pursue our growth strategy in 2021 and beyond.”