Wellpoint, Inc. (WLP) Tops Q1 EPS by 16c; Sees FY14 EPS Above $8.40

Wellpoint, Inc. (NYSE: WLP) reported Q1 EPS of $2.30, $0.16 better than the analyst estimate of $2.14. Revenue for the quarter came in at $17.65 billion versus the consensus estimate of $17.96 billion.

Membership:

Medical enrollment totaled approximately 36.9 million members at March 31, 2014, an increase of approximately 1.3 million members, or 3.6 percent, from 35.7 million at December 31, 2013. Commercial and Specialty Business segment enrollment increased by 1.2 million members, as the company experienced growth in the National, Local Group, and Individual markets. Membership also grew in the Medicaid and FEP business by 121,000 and 16,000 members, respectively, partially offset by a decline in the Medicare business of 62,000 members.

FY14 guidance:

• Net income is now expected to be greater than $8.50 per share, including $0.10 per share of net favorable items in the first quarter. Excluding these items, adjusted net income is expected to be greater than $8.40 per share (refer to the GAAP reconciliation table).
• Medical membership is now expected to be in the range of 36,950,000 – 37,050,000. Fully insured membership is now expected to be in the range of 14,500,000 – 14,550,000 and self-funded membership is now expected to be in the range of 22,450,000 – 22,500,000.
• Operating revenue is now expected to be greater than $73.5 billion.

For earnings history and earnings-related data on Wellpoint, Inc. (WLP) click here.

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