Centene projects $105B in revenue for 2020 on back of WellCare deal

Centene Corporation released its 2020 guidance Tuesday evening. Here's a look at the projections. (Centene)

Centene Corporation released its 2020 guidance Tuesday evening, and the insurer estimates that its revenue for the year will land between $104.8 billion and $105.6 billion following the closure of its WellCare Health Plans acquisition.

The insurer projects earnings per share of between $3 and $3.14. It estimates its health benefits ratio will be between 85.9% and 86.3%.

"The Company is well-positioned to maintain its momentum in 2020," said Michael Neidorff, CEO of Centene, in a statement.

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Centene closed its purchased of WellCare Jan. 23 and as a result delayed the release of its 2020 guidance by about a month. It will hold a call Wednesday morning to further delve into the estimates.