: Centene raises profit outlook, will reduce real estate footprint as it adopts modern, flexible work environment #FinanceUSA #StockMarketNEWS Shares of Centene Corp. rallied 1.8% in premarket trading

@stockMarketNEWS 9 Days ago

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Centene raises profit outlook, will reduce real estate footprint as it adopts modern, flexible work environment #FinanceUSA #StockMarketNEWS
Shares of Centene Corp. rallied 1.8% in premarket trading Friday, after the health care company raised its full-year profit and revenue outlook and added .0 billion to its stock repurchase program. The company also said it was reducing its real estate footprint, as part of its plan to adopt "a more modern, flexible work environment." The company raised its adjusted earnings per share guidance range to .55 to .70 from .40 to .55 and boosted its premium and service revenue outlook to 4.3 billion to 6.3 billion from 2.3 billion to 4.3 billion. The company also set a new .0 billion debt buyback program. Separately, Centene said it will record 0 million to 0 million in costs, reflecting a 65% decrease in domestic leased space and including costs to decommission space and lease termination fees, and 0 million to 0 million attributable to owned real estate. The company expects to decrease its leased real estate expense by an annualized 0 million to 0 million. Centene stock has slipped 7.0% year to date through Thursday, while the SPDR Health Care Select Sector ETF has declined 14.9% and the S&P 500 has dropped 23.1%.

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