Express Scripts Earns $1.57 per Share

After the closing bell, Express Scripts (ESRX) earned $1.57 per share which matched Wall Street’s consensus. The company had previously given a range for Q2 of $1.55 to $1.59 per share.

Express also raised the low end of its full-year guidance by two cents per share. The old range was $6.31 to $6.43 per share. The new range is $6.33 to $6.43 per share.

For Q3, Express sees earnings between $1.72 and $1,76 per share. The Street had been expecting $1.72 per share.

Founded in 1986, Express Scripts went public in 1992. Its two largest customers are Anthem Inc., with which it is in the middle of a contract dispute, and the Defense Department. Collectively, Anthem, the second-largest U.S. health insurer, and the Defense Department accounted for nearly 30% of revenue last year, according to regulatory filings.

Over all, Express Scripts reported a profit of $720.7 million, or $1.13 a share, compared with $600.1 million, or 88 cents a share, a year earlier. Excluding certain items, profit rose to $1.57 a share, from $1.44 a year earlier, in line with the company’s guidance.

The most recent quarter’s results were based on 6.7% fewer shares outstanding.

Revenue edged down 0.9% to $25.22 billion, compared with analysts’ projected $25.42 billion.

Adjusted claims fell 2% to 315.3 million, within the company’s range of 312 million to 322 million.

Gross profit margin improved to 8.6% from 8.4% a year earlier.

Posted by on July 25th, 2016 at 6:36 pm


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