WellCare Health Plans Earnings: Here’s Why Investors are Happy Now
WellCare Health Plans, Inc. (NYSE:WCG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.86%.
WellCare Health Plans, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 25.71% to $1.32 in the quarter versus EPS of $2.15 in the year-earlier quarter.
Revenue: Rose 23.41% to $1.99 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: WellCare Health Plans, Inc. reported adjusted EPS income of $1.32 per share. By that measure, the company beat the mean analyst estimate of $1.25. It beat the average revenue estimate of $1.89 billion.
Quoting Management: “As a result of our 2012 and more recent accomplishments, we are better positioned than we ever have been to deliver profitable growth over the long-term,” said Alec Cunningham, WellCare’s CEO. “We began 2013 with the most diversified portfolio of revenue and earnings streams in our history in a number of attractive markets that have sizeable government program growth prospects. We intend to continue to capitalize on those opportunities.”
Key Stats (on next page)…