Tuesday, Puerto Rico-based managed care company Triple-S Management, Corp. (GTS) posted a rise in fourth-quarter profit from a year ago on higher premiums earned and higher administrative fees. Both earnings and revenues for the quarter also came in above estimates.
Net income was $28.1 million, compared to $2 million last year. Current quarter included an after tax net gain of $3.7 million in net realized and unrealized gains on investments and derivatives.
Excluding net realized and unrealized gains on investments and a derivatives gain, Pro forma net income increased to $24.4 million or $0.83 per share from $21.3 million or $0.66 per share. Analysts polled by Thomson Reuters expected earnings of $0.75 for the quarter. Analysts' estimates typically exclude one-time items.
Total operating revenues increased 11.2% to $511.2 million from $460.2 million last year. Wall Street expected the company to post fourth-quarter revenue of $506.32 million.
The increase was primarily due to solid membership growth with the July 2009 acquisition of La Cruz Azul. The company also benefited from the favorable impact of ASO government contract profit sharing in the Metro-North region. Segment-wise, consolidated premiums increased 9.4% to $479.9 million from $438.7 million primarily due to increased volume and higher rates in the Managed Care business. Reported Managed Care net premiums increased to $432.1 million driven by an 18.0% year-over-year rise in Commercial premiums with growth in Commercial membership after the La Cruz Azul acquisition.
For the full-year, profit rose to $68.78 million or $2.33 per share from $24.79 million or $0.77 per share. Pro forma net income was $59.4 million or $2.01 per share, compared with $59.8 million or $1.86 per share last year. Total operating revenue rose to $1.98 billion from $1.77 billion last year. Analysts expected full-year earnings of $1.93 per share on revenues of $1.97 billion.
Looking ahead, the company anticipates full-year 2010 earnings of $2.05 to $2.15 per share on a 4% increase in operating revenues; consolidated operating revenues is expected to range between $2.0 billion and $2.1 billion. Analysts expect earnings of of $2.12 per share on revenues of $2.06 billion for fiscal year 2010.
GTS is currently trading at $16.64, up $0.67 or 4.20%, on a volume of 85,114 shares on the NYSE.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.