David Thomas on economic recovery
From Centene CEO on Q1 earnings: 'Very unusual time' for American businesses · · CNBCTelevision
“You're not going to be able to measure it according to the quarter — you're going to have to look over the long haul. There could well be a second peak if people go back to work too soon, and it's going to take a while for things to come back.”
On , David Thomas, Chief Executive Officer of Markets & Medicaid at Centene Corporation, spoke about economic recovery during Centene CEO on Q1 earnings: 'Very unusual time' for American businesses on CNBCTelevision.
About David Thomas
In an April 2020 interview discussing Centene's first-quarter earnings, CEO Michael Neidorff described the period as "a very unusual time" for American businesses. He stated that the company's quarterly performance aligned with the forecast provided on March 3, reporting earnings of 91 cents per share. Neidorff attributed a five-cent shortfall to a loss of interest income, which he said resulted from the Federal Reserve's dramatic rate cuts, an event he described as unforeseeable. He noted that Centene had moved 66,000 employees to work from home in three days and that the company was "functioning today as well as it has ever functioned." Neidorff cautioned against measuring the company's performance on a quarterly basis, suggesting that observers should "look over the long haul" due to the pandemic's uncertainty. He expressed concern that a second peak of infections could occur if people returned to work too soon and predicted that unemployment could remain at 7–10% into the following year. He advocated for continued physical distancing, mask-wearing, and temperature checks in workplaces, and stated that a return to normal economic activity would be "choppy" until a vaccine is available.