Express Scripts Issues FY17 Earnings Guidance; Affirms 2016 Outlook

(RTTNews) - Express Scripts Holding Company (ESRX) announced the company anticipates achieving adjusted earnings per share for 2017 in the range of $6.82 to $7.02, representing growth of 7% to 10% from the midpoint of its 2016 adjusted EPS guidance range. EBITDA is expected to be in a range of $7.31 to $7.51 billion, for fiscal 2017. Analysts polled by Thomson Reuters expect the company to report profit per share of $6.93 for fiscal 2017. Analysts' estimates typically exclude special items.

Express Scripts reaffirmed its 2016 adjusted EPS guidance range of $6.36 to $6.42 and EBITDA guidance range of $7.23 to $7.33 billion. The company updated 2016 EPS guidance to a range of $5.28 to $5.34, from a range of $4.47 to $4.53, driven by the previously disclosed impact from discrete tax benefits per share of $0.81 related to the disposition of PolyMedica Corp.

Express Scripts noted that the company is revising its methodology for reporting network claims for its 2017 financial guidance and for reporting periods beginning with the year ending December 31, 2016. The revised methodology includes an adjustment to reflect non-specialty network claims filled through the company's 90-day network programs. Solely as the direct result of the revised methodology, Express Scripts updated its previously issued 2016 total adjusted claims guidance to a range of 1,400 million to 1,415 million from a range of 1,265 million to 1,280 million.