WellCare: 3Q Earnings Snapshot
TAMPA, Fla. (AP) _ WellCare Health Plans Inc. (WCG) on Wednesday reported third-quarter earnings of $241 million.
On a per-share basis, the Tampa, Florida-based company said it had net income of $4.74. Earnings, adjusted for non-recurring costs, came to $5.50 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.93 per share.
The Medicare and Medicaid coverage provider posted revenue of $7.14 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $6.82 billion.
WellCare shares have climbed 21% since the beginning of the year. The stock has declined 2% in the last 12 months.