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WellCare Health Plans Q1 Profit Rises

WellCare Health Plans, Inc. (WCG) reported that its GAAP net income for the first quarter of 2019 was $151.4 million or $2.98 per share, up from $101.7 million, or $2.25 per share in the first quarter of 2018, reflecting growth across all business segments and continued operational execution.

Adjusted net income for the first quarter of 2019 was $187.6 million, or $3.69 per share, compared with adjusted net income of $111.8 million or $2.47 per share, for the first quarter of 2018.

GAAP and adjusted total revenue of $6.8 billion and $6.7 billion for the first quarter of 2019 increased 45.5 percent and 47.9 percent, respectively, compared with last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $3.04 per share and revenues of $6.57 billion. Analysts' estimates typically exclude special items.

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