WellCare: 2Q Earnings Snapshot
TAMPA, Fla. (AP) _ WellCare Health Plans Inc. (WCG) on Tuesday reported second-quarter net income of $151.6 million.
The Tampa, Florida-based company said it had net income of $3.35 per share. Earnings, adjusted for non-recurring costs, came to $3.69 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.03 per share.
The Medicare and Medicaid coverage provider posted revenue of $4.64 billion in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $4.65 billion.
WellCare expects full-year earnings in the range of $10.70 to $10.90 per share.
WellCare shares have climbed 24 percent since the beginning of the year. The stock has risen 38 percent in the last 12 months.