Magellan Health: 3Q Earnings Snapshot

November 7, 2018

SCOTTSDALE, Ariz. (AP) _ Magellan Health Inc. (MGLN) on Wednesday reported third-quarter profit of $27.1 million.

The Scottsdale, Arizona-based company said it had profit of $1.09 per share. Earnings, adjusted for one-time gains and costs, were $1.45 per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.

The healthcare management business posted revenue of $1.85 billion in the period, matching Street forecasts.

Magellan Health expects full-year earnings in the range of $4.26 to $4.90 per share, with revenue in the range of $7.3 billion to $7.5 billion.

Magellan Health shares have decreased 28 percent since the beginning of the year. The stock has dropped 16 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 MGLN at https://www.zacks.com/ap/MGLN

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