Express Scripts Bounces on Favorable Earnings and Guidance

Shares of Express Scripts ESRX are trading higher in the after-hours following the release of the company's Q3 earnings results. Currently, shares are higher by 2.65%, trading at $39.49; they ended the regular session lower by 4.89%, at $38.47. Express Scripts reported adjusted Q3 EPS of $0.79 on revenues of $11.57 billion; the Street was looking for $0.77 per share on $11.25 billion. Revenues increased 2.8% year over year. The company also reaffirmed FY2011 guidance, saying it sees EPS in the range of $2.95-3.08. The Street was at $2.97 per share. "Our third quarter results reflect the continued execution of our business model and the value of fully aligning with clients," stated George Paz, chief executive officer and chairman. "We continue to invest robustly for the future, maintaining our focus on innovation, service and achieving optimal health outcomes. We are confident that these investments will create value for plan sponsors and patients and will continue to drive growth in shareholder value." Express Scripts, Inc. is a pharmacy benefit management operating in North America, offering a range of services to its clients, which include health maintenance organizations, health insurers, third-party administrators, employers, union-sponsored benefit plans, workers' compensation plans and Government health programs.