Express Scripts Gives Upbeat Forecast

Shares of Express Scripts (ESRX) are doing well this morning after the company gave an optimistic forecast for 2018:

Express Scripts said it expected adjusted full-year 2018 earnings of $7.67 to $7.87 per share, above analysts’ average expectation of $7.65, according to Thomson Reuters I/B/E/S.

The company said it estimated that eviCore would have adjusted earnings before income, tax, depreciation and amortization of $265 million to $285 million in 2018.

Express Scripts’ shares were up 1.8 percent at $69.83 in pre-market trading.

The company said the forecast also included the sale of its United Biosource unit to Avista Capital Partners, which was announced last month.

Express Scripts also increased its full-year 2017 adjusted earnings per share outlook to $7 to $7.08, from its earlier estimate of $6.97 to $7.05.

Express has earned $4.94 per share through the first three quarters, so the new range implies Q4 earnings of $2.06 to $2.14 per share. Wall Street had been expecting $2.06 per share.

Posted by on December 14th, 2017 at 11:23 am


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