ST LOUIS (AP) _ Centene Corp. (CNC) on Tuesday reported a fourth-quarter loss of $12 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the St. Louis-based company said it had a loss of 2 cents. Earnings, adjusted for one-time gains and costs, came to 46 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The healthcare company posted revenue of $28.29 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $28.47 billion.
For the year, the company reported profit of $1.81 billion, or $3.12 per share. Revenue was reported as $111.12 billion.
Centene expects full-year earnings in the range of $5 to $5.30 per share, with revenue in the range of $116.1 billion to $118.1 billion.
Centene shares have dropped 3% since the beginning of the year. The stock has decreased 9.5% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CNC at https://www.zacks.com/ap/CNC