Express Scripts Q2 Profit Rises; Lifts FY13 Adj. Earnings View - Quick Facts

(RTTNews) - Pharmacy benefits manager Express Scripts Holding Co. (ESRX) reported net income for the second quarter of $543.0 million or $0.66 per share, compared to $149.6 million or $0.18 per share for the year-ago quarter.

Income from continuing operations for the latest quarter was $565.8 million or $0.67 per share, compared to $153.4 million or $0.18 per share in the prior year quarter.

Excluding items, adjusted earnings from continuing operations for the latest second quarter were $1.11 per share, compared to $0.88 per share in the comparable quarter last year.

Meanwhile, revenue for the second quarter declined to $26.43 billion from $27.50 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $1.10 per share on revenue of $25.52 billion for the current quarter. Analysts' estimates typically exclude special items.

For the third quarter, the company expects adjusted earnings per share from continuing operations attributable to Express Scripts to be between $1.05 and $1.09. Analysts now expect third quarter earnings of $1.08 per share.

Looking forward, the company raised its forecast for adjusted earnings from continuing operations for 2013 to $4.26 to $4.34 per share from its prior estimate of $4.23 to $4.33 per share. Analysts currently expect the company to earn $4.30 per share for the full-year 2013.