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WellCare: 4Q Earnings Snapshot

TAMPA, Fla. (AP) _ WellCare Health Plans Inc. (WCG) on Tuesday reported fourth-quarter profit of $55.9 million.

On a per-share basis, the Tampa, Florida-based company said it had profit of $1.11. Earnings, adjusted for non-recurring costs, were $1.63 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.

The Medicare and Medicaid coverage provider posted revenue of $6.07 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $5.85 billion.

For the year, the company reported profit of $439.8 million, or $9.29 per share. Revenue was reported as $20.41 billion.

WellCare expects full-year earnings in the range of $13.25 to $13.50 per share, with revenue in the range of $25.8 billion to $26.7 billion.

WellCare shares have increased 19 percent since the beginning of the year. The stock has climbed 37 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WCG at https://www.zacks.com/ap/WCG