Aetna (AET) Tops Q1 EPS by 7c; Lifts Outlook

Aetna (NYSE: AET) reported Q1 EPS of $2.30, $0.07 better than the analyst estimate of $2.23. Revenue for the quarter came in at $15.69 billion versus the consensus estimate of $15.45 billion.

• Operating earnings per share (1) were $2.30 for the first quarter of 2016
• Net income (2) per share was $2.06 for the first quarter of 2016
• Medical membership totaled approximately 23.0 million at March 31, 2016
• Operating revenue (3) was $15.7 billion for the first quarter of 2016

“We started the year on a positive note, carrying over momentum from 2015 where we generated record annual operating earnings and revenues,” said Mark T. Bertolini, Aetna chairman and CEO. “Based on first quarter results, we increased our full-year 2016 operating earnings per share projection to a range of $7.90 to $8.10.

“We believe we remain on track to close our acquisition of Humana in the second half of 2016, which will help enable us to offer consumers a broader choice of products, access to higher quality and more affordable care, and a better overall experience. We have obtained approximately two-thirds of the necessary state change of control approvals required to close the transaction, and we continue to cooperate with the Department of Justice as we move toward a combined organization that will accelerate our efforts to build a healthier world,” said Bertolini.

“We are encouraged by our first quarter results and our improved 2016 outlook, particularly at this early stage in the year,” said Shawn M. Guertin, Aetna executive vice president and chief financial officer. “Our operating results reflect the ongoing execution of our growth strategy, and our financial position, capital structure and liquidity all continue to be very strong.”

GUIDANCE:

Aetna sees FY2016 EPS of $7.90-$8.10, versus the consensus of $7.95.

For earnings history and earnings-related data on Aetna (AET) click here.

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