Recap: Magellan Health Q3 Earnings

Shares of Magellan Health MGLN were unchanged after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 93.50% over the past year to $0.08, which beat the estimate of ($0.10).

Revenue of $1,170,000,000 decreased by 36.03% year over year, which beat the estimate of $1,140,000,000.

Outlook

The upcoming fiscal year's EPS expected to be between $0.63 and $1.10.

The upcoming fiscal year's revenue expected to be between $4,400,000,000 and $4,600,000,000.

Conference Call Details

Date: Oct 29, 2020

Time: 09:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/ahf6pb6t

Price Action

52-week high: $81.04

Company's 52-week low was at $30.60

Price action over last quarter: down 1.38%

Company Overview

Magellan Health provides healthcare management services to health plans and other managed care organizations, employers, labor unions, United States government agencies, and third-party administrators. The firm operates in three segments: Healthcare, Pharmacy Management, and Corporate. The Healthcare business manages behavioral healthcare services and employee assistance program services, as well as specialty areas like diagnostic imaging. The Pharmacy Management segment includes pharmacy benefit management (PBM) services, pharmacy benefit administration for Medicaid and other government-sponsored programs, pharmaceutical dispensing operations, and clinical and formulary management programs. The Healthcare business generates the majority of revenue.