Triple-S Management (GTS) Tops Q1 EPS by 23c, Revenues Miss; Maintains FY20 EPS Mid-Point Guidance Below Consensus

Triple-S Management (NYSE: GTS) reported Q1 EPS of $0.75, $0.23 better than the analyst estimate of $0.52. Revenue for the quarter came in at $842.77 million versus the consensus estimate of $897.92 million.

"Since the onset of the COVID-19 pandemic across the world in March, our team has been fully engaged to support our members, providers and employees," said Roberto Garcia-Rodriguez, President and Chief Executive Officer. "Our community and front-line workers are our backbone, and their resiliency in these challenging times gives us confidence as the economy reopens and we learn to live with COVID-19 in the weeks and months ahead."

"Our team has worked tirelessly to ensure that members can continue accessing quality health care services during the pandemic," added Mr. Garcia-Rodriguez. "We are proud of their dedication and commitment, and we will continue to fully support the communities we serve throughout the pandemic and beyond."

COVID-19 Operational Update

The Company took quick action at the onset of the pandemic, activating its business continuity plans. The large majority of Triple-S employees and management seamlessly transitioned to working from home, while essential employees are onsite but adhering closely to Centers for Disease Control and local guidelines.

GUIDANCE:

Triple-S Management sees FY2020 EPS of $2.60-$2.80, versus the consensus of $2.80.

Due to COVID-19's potential impact on the macroeconomic environment and the Company's operations, the Company has decided to suspend its 2020 premium and cost guidance until it has more visibility; however, it is maintaining its full year 2020 adjusted net income per diluted share guidance of between $2.60 and $2.80. Adjusted net income per diluted share does not account for any potential share repurchase activity during 2020. The Company is assuming a weighted average diluted share count for full year 2020 of 23.3 million shares.

For earnings history and earnings-related data on Triple-S Management (GTS) click here.

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