$535M loss in Q2--what's next?

https://www.fiercehealthcare.com/payer/centene-posts-535m-loss-second-quarter-2021

Centene Corporation posted a $535 million loss in the second quarter of 2021, down from its $1.2 billion haul in the prior-year quarter.

Despite the loss, the company is the black for the first half of the year, according to its earnings report released Tuesday morning, with $164 million in profit through the first two quarters. By comparison, Centene boasted $1.3 billion in profit for the first half of 2020.

On a per-share basis, that represents a loss of 92 cents. The results fell short of Wall Street analysts' predictions, according to Zacks Investment Research, which projected earnings of $1.41 per share.

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There was a loss because of this

Centene Corp. agreed to pay settlements to Ohio and Mississippi to resolve claims that it inflated pharmacy costs, and the health insurer reserved $1.1 billion to resolve similar claims in other states

I am expecting that in either the month of August or September that we will have a mass layoff!

For the person who hasn't seen any layoffs.. do understand they aren't always front and center. They quietly get rid of folks and you don't know that it's happened.

Yes MFN danced around the real issue and kept stressing the variant and Covid WTF !! 95 percent of the claims will be denied , then reconsiderations never received ( when they where and conveniently shredded) then appeals never received ( shredded) then everything sent again and The provider is denied , past timely… so what the f@@k are these shareholders stupid ??? No they are much smarter then he thinks! Narcissistic MFN … his greed put us all in this situation!!! As----e

They were downplaying results for the test of the year all throughout today’s call. Already laying the groundwork to blame COVId expenses from the Delta variant. Either way, we aren’t as profitable as expected. I’m sure they’ll cut more

Well it’s the end of July and still I haven’t seen any layoffs..

Layoffs this month? Only 4 days left this month. More then likely layoffs occur in August!

MFN's tapdancing round the facts is a wonder to behold. When are the shareholders and outside investors going to cut his retirement papers?

Several people said there would be layoffs this month on this site

Thread regarding Centene Corp. layoffs

$535M loss in Q2--what's next?

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