Express Scripts: 2Q Earnings Snapshot
ST. LOUIS (AP) _ Express Scripts Holding Co. (ESRX) on Wednesday reported second-quarter earnings of $877.3 million.
On a per-share basis, the St. Louis-based company said it had net income of $1.55. Earnings, adjusted for non-recurring costs, came to $2.22 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.20 per share.
The pharmacy benefit manager posted revenue of $25.64 billion in the period, which also beat Street forecasts. Twelve analysts surveyed by Zacks expected $25.36 billion.
For the current quarter ending in October, Express Scripts expects its per-share earnings to range from $2.40 to $2.45. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.43.
The company expects full-year earnings in the range of $9 to $9.14 per share, with revenue ranging from $99 billion to $102 billion.
Express Scripts shares have increased slightly since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 5 percent. In the final minutes of trading on Wednesday, shares hit $74.84, a rise of 20 percent in the last 12 months.