Express Scripts Posts In-Line Q1 Earnings, Issues Strong Forecast

reported in-line earnings for the first quarter and issued a strong outlook for the second quarter. For the current quarter, Express Scripts projects adjusted earnings of $1.39 to $1.43 per share, versus analysts' estimates of $1.36 per share. For the year, Express Scripts now expects earnings of $5.37 to $5.47 per share, versus earlier forecast of $5.35 to $5.49 per share. The St. Louis, Missouri-based company reported a quarterly profit of $441.1 million, or $0.60 per share, versus a year-ago profit of $328.3 million, or $0.42 per share. Excluding items, the company's earnings climbed to $1.10 per share from $0.99 per share. Its revenue gained 5.1 percent to $24.9 billion, versus $23.69 billion. However, analysts were expecting a profit of $1.10 per share on revenue of $24.34 billion. Adjusted EBITDA climbed 3 percent to $1,512.1 million. The number of adjusted claims slipped 4 percent to 307.6 million. The average estimate among 13 Estimize users was for earnings of $1.11 per share and revenue of $24.61 billion. "As our industry evolves, and plan sponsors have more business models to choose from, it is increasingly clear that Express Scripts is the best choice to manage America's pharmacy benefits," stated George Paz, Chairman and Chief Executive Officer. "At every turn, we add value to healthcare by combining a superior model of patient care with aggressive payer advocacy. Our unique combination of scale, client alignment and unmatched will, consistently creates greater value for patients and payers, while delivering solid results for our shareholders." Express Scripts shares gained 2.86 percent to $90.00 in the after-hours trading session.