WellCare Q2 Profit Tops Estimates; Increases Guidance - Quick Facts

(RTTNews) - WellCare Health Plans, Inc. (WCG) reported adjusted net income for the second quarter of 2017 of $2.52 per share compared to $2.23, a year ago. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $2.24 for the quarter. Analysts' estimates typically exclude special items.

Second-quarter total premium revenue was $4.29 billion compared to $3.59 billion, a year ago. Analysts expected revenue of $4.23 billion, for the quarter. GAAP and adjusted total premium revenue for the second quarter of 2017 increased 19.6 percent and 21.6 percent, respectively, compared with the second quarter of 2016.

WellCare increased its full-year 2017 adjusted EPS guidance to a range of $6.75 to $6.95 from its previous guidance range of $6.55 to $6.80 per share.