WellCare Health Plans Q2 Profit Increases - Quick Facts

(RTTNews) - WellCare Health Plans Inc. (WCG) reported that its net income for the second quarter of 2019 increased to $182.8 million or $3.60 per share, from last year's $151.6 million, or $3.35 per share, reflecting growth across all business segments and continued operational execution.

Adjusted net income for the second quarter of 2019 was $219.0 million or $4.31 per share, compared to $166.9 million, or $3.69 per share in the prior year.

GAAP and adjusted total revenue of $7.0 billion, for the second quarter of 2019 increased 51.1 percent and 53.5 percent, respectively, compared with the second quarter of 2018. The year-over-year increases in total revenue were primarily the result of the company's 2018 acquisition of Meridian and net organic growth across all business segments, partially offset by the effect of the 2019 ACA Health Insurer Fee (HIF) moratorium.