Blog: CENTENE CORP : Material Impairments, Regulation FD Disclosure, Other Events, Financial Statements and Exhibits (form 8-K) – Marketscreener.com

ITEM 2.06 MATERIAL IMPAIRMENTS


On June 17, 2022, Centene Corporation (the "Company") issued a press release
announcing a reduction of its real estate footprint. As a result, the Company
expects to record estimated pre-tax costs including impairments of $750 million
to $800 million attributable to leased space (reflecting a 65% decrease in
domestic leased space), inclusive of the cost to decommission space and lease
termination fees, and $750 million to $850 million attributable to owned real
estate.


ITEM 7.01 REGULATION FD DISCLOSURE

On June 17, 2022, the Company announced its increased 2022 earnings guidance.


The Company will host a virtual investor meeting on June 17, 2022, including a
question-and-answer session. The event will begin promptly at 8:30 AM (Eastern
Time). Investors and other interested parties can access the full Centene
Investor Day event and presentation online at:
https://investors.centene.com/news-events/events-presentations.

The information contained on the website is not a part of this Current Report on
Form 8-K. A copy of this press release is furnished as Exhibit 99.1 to this
Current Report on Form 8-K. The information in this Item 7.01, including Exhibit
99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, and is not incorporated by reference into any
filing by the Company, whether made before or after the date of this report,
regardless of any general incorporation language in the filing, except as
expressly set forth by specific reference in such a filing.


ITEM 8.01 OTHER EVENTS


On June 17, 2022, the Company announced that its board of directors has
authorized (i) a $3.0 billion increase of the Company's existing stock
repurchase program, allowing for the repurchase of up to $3.6 billion of its
common stock, par value $0.001 per share ("Common Stock") and (ii) a debt
repurchase program, which in the aggregate provides for the repurchase of up to
$1.0 billion of the Company's outstanding senior notes. Either of the repurchase
programs may be suspended or discontinued at any time.

Such repurchases may be made on the open market or in privately negotiated
transactions. The timing and amount of any repurchases will be determined by the
Company's management based on its evaluation of market conditions and other
factors. The Company may also establish 10b5-1 and 10b5-18 trading plans, as
applicable, from time to time that will provide flexibility if and when it buys
back securities.


ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits.

  Exhibit Number                                          Description
       99.1                 Press release, dated June 17, 2022
        104               Cover Page Interactive Data File (embedded within
the Inline XBRL document)



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