Triple-S Management Corp. (GTS) Posts Q2 EPS of $0.89

Triple-S Management Corp. (NYSE: GTS) reported Q2 pro-forma EPS of $0.89, which may not compare to the analyst estimate of $0.28. Revenue for the quarter came in at $590.7 million versus the consensus estimate of $586.64 million.

Ruiz-Comas continued, "On the Medicaid front, we recently signed an extension of the existing contract with the Puerto Rico Health Insurance Administration (ASES) through March 31, 2015. Proposals under the new RFP, which will require services to be provided under an at-risk model, need to be submitted later this month. ASES has announced that they anticipate making a decision by the end of the third quarter."

"Through our ongoing comprehensive strategic review, we have begun garnering operating efficiencies and addressing organizational changes necessary to compete effectively in the evolving healthcare marketplace. Administrative expenses continue to decline, helping to substantially offset the increase in costs associated with the implementation of new taxes and regulatory fees, as well as the three additional Medicaid service regions. Nonetheless, we remain cautious as we look out over the next two years, reflecting the economic environment in Puerto Rico, the possible effect of previously announced spending reductions by the local government, and the final outcome of the Medicaid bid. Management continues to evaluate the best uses of our capital and remains keenly focused on enhancing the performance of our core business," said Ruiz-Comas.

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

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