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WellCare Health Plans Profit Surges, Lifts FY Adj. EPS Outlook

WellCare Health Plans, Inc. (WCG) Tuesday reported second quarter net income net income surged to $151.6 million from $74. 1 million in the prior year. On a per share basis, earnings were $3.35, up from $1.65 last year. On an adjusted basis, earnings were $166.9 million or $3.69 per share.

On average, 16 analysts polled by Thomson Reuters expected the company to earn 3.03 per share. Analysts estimates usually exclude special item.

Revenue for the quarter increased to $4.639 billion from $4.305 billion in the prior year.

Looking ahead,t he company said it will be revising the full year adjusted earnings per share outlook in a range of $10.70 to $10.90. Earlier guidance was in a range of $10.00 to $10.30 per share. Analysts are looking for 10.3 per share on revenue of $18.64 billion.

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