UPDATE: WellCare Posts Lower Q4 Profit
WellCare Health Plans (NYSE: WCG) reported a 12% drop in its fourth-quarter earnings.
For the new year, WellCare expects earnings of $3.75 to $4.05 per share on premium revenue of $11.6 billion to $11.75 billion. However, analysts expected earnings of $5.06 per share.
WellCare's quarterly profit fell to $42.9 million, or $0.97 per share, from a year-ago profit of $48.8 million, or $1.11 per share. Excluding special items, it earned $1.09 per share.
Its total revenue surged 23% to $2.44 billion. However, analysts were expecting earnings of $1.15 per share on revenue of $2.42 billion.
WellCare shares closed at $62.22 yesterday.
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