WellCare Health Plans, Inc. (NYSE:WCG) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
WellCare Health Plans, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 52.27% to $0.63 in the quarter versus EPS of $1.32 in the year-earlier quarter.
Revenue: Rose 25.98% to $2.26 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: WellCare Health Plans, Inc. reported adjusted EPS income of $0.63 per share. By that measure, the company missed the mean analyst estimate of $0.68. It beat the average revenue estimate of $2.18 billion.
Quoting Management: “First quarter results highlight the continued expansion and diversification of our business driven by the successful execution of our three-product strategy,” said Alec Cunningham, WellCare’s CEO. “Organic growth initiatives and acquisitions have delivered strong membership and revenue increases this year, and our investments in care management, quality, and service continue to enhance our position as a leader in government health care programs.”
Key Stats (on next page)…
Revenue increased 13.51% from $1.99 billion in the previous quarter. EPS decreased 52.27% from $1.32 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.29 to a profit $1.26. For the current year, the average estimate has moved down from a profit of $4.96 to a profit of $4.88 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)