Anthem (ANTM) Tops Q1 EPS by 88c; Guides In-Line

Anthem (NYSE: ANTM) reported Q1 EPS of $4.68, $0.88 better than the analyst estimate of $3.80. Revenue for the quarter came in at $22.3 billion versus the consensus estimate of $21.27 billion.

• Net income was $3.73 per share, including net negative adjustment items of $0.95 per share. Adjusted net income was $4.68 per share (refer to the GAAP reconciliation table).
• Medical enrollment increased sequentially by approximately 0.7 million members, or 1.8%, totaling approximately 40.6 million members as of March 31, 2017.
• Company now expects medical enrollment to grow by nearly 300 - 500 thousand members for the full year 2017.
• Full year 2017 GAAP net income is now expected to be greater than $10.37. Full year adjusted net income is now expected to be greater than $11.60 (refer to the GAAP reconciliation table).
• Second quarter 2017 dividend of $0.65 per share declared to shareholders.

“Our first quarter 2017 earnings represent a strong start to the year as membership and operating revenue came in above our expectations. The value proposition we bring to the marketplace is clearly resonating with consumers as we are committed to improving the quality and affordability of healthcare for our customers," said Joseph Swedish, president and chief executive officer.

“Our solid first quarter financial performance reflects continued momentum across our businesses that positions us well for future success, as reflected in our updated 2017 outlook,” said John Gallina, executive vice president and chief financial officer.

GUIDANCE:

Anthem sees FY2017 EPS of $11.60, versus the consensus of $11.58.

For earnings history and earnings-related data on Anthem (ANTM) click here.

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