WellCare Health Plans Posts Profit In Q2, Lifts FY Earnings View - Quick Facts

(RTTNews) - WellCare Health Plans (WCG) Wednesday reported second-quarter profit of $51.7 million or $1.17 per share, compared to a loss of $7.5 million or $0.17 per share last year.

Adjusted earnings per share were $1.34, while in the previous year the firm posted an adjusted loss per share of $0.07. On average, 12 analysts polled by Thomson Reuters expected earnings of $0.96 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues improved to $3.483 billion from $3.152 billion in the prior year. Analysts expected revenues of $3.45 billion.

Kenneth Burdick, WellCare's chief executive officer, said, "As a result of this performance and our confidence for the remainder of the year, we are raising our 2015 adjusted earnings per diluted share guidance to a range of $3.30 to $3.45."

Wall Street looks for earnings of $3.34 per share.