WellCare Health Plans, Inc. (WCG) Tops Q1 EPS Views; Boosts Outlook

WellCare Health Plans, Inc. (NYSE: WCG) reported Q1 EPS of $1.13, $1.13 better than the analyst estimate of $0.04.

Adjusted net income per diluted share for the first quarter of 2014 increased $0.50 compared with the same period in 2013, primarily due to the recognition of the Windsor bargain purchase gain, premium revenue growth in all three of the Company's segments, the increase in the Medicaid segment gross margin rate, and the reduction in the administrative expense ratio. These factors were offset in part by the decreases in the gross margin rates of the Medicare Health Plans and Medicare Prescription Drug Plans (PDPs) segments, and increased interest expense.

WellCare Health Plans, Inc. sees FY2014 EPS of $4.40-$4.75, versus prior guidance of $3.75-$4.05 and the consensus of $3.97.

For earnings history and earnings-related data on WellCare Health Plans, Inc. (WCG) click here.

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