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WellCare: 2Q Earnings Snapshot

July 31, 2018

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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WCG at https://www.zacks.com/ap/WCG

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