Anthem beats by $0.25, reports revs in-line;raises FY17 guidance (195.25)
- Reports Q3 (Sep) earnings of $2.65 per share, excluding non-recurring items, $0.25 better than the Capital IQ Consensus of $2.40; revenues rose 4.6% year/year to $22.1 bln vs the $22.1 bln Capital IQ Consensus. Membership: Medical enrollment totaled approximately 40.3 million members at September 30, 2017, an increase of 347 thousand members, or 0.9 percent, from 39.9 million at September 30, 2016.
- Co issues raised guidance for FY17, sees EPS of $11.90-12.00 from $11.70 prior, excluding non-recurring items, vs. $11.83 Capital IQ Consensus Estimate; sees FY17 revs of $88.5-89.5 bln from $88-89 bln vs. $88.85 bln Capital IQ Consensus Estimate.
- Medical membership is now expected to be in the range of 40,000,000 - 40,200,000. Fully insured membership is now expected to be in the range of 15,100,000 - 15,200,000 and self-funded membership is now expected to be in the range of 24,900,000 - 25,000,000. Operating revenue is expected to be in the range of $88.5 - $89.5 billion. Benefit expense ratio is now expected to be in the range of 86.8% plus or minus 30 basis points. Medical Cost Trend: For the full year 2017, the Company now expects underlying Local Group medical cost trend to be in the range of 6.5% - 7.0%, with a bias toward the low end of the range.