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WellCare projects increased revenue for FY'18

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WellCare projects increased revenue for FY'18

WellCare Health Plans Inc. has issued its full-year 2018 guidance and reaffirmed its full-year 2017 outlook.

The company anticipates adjusted EPS to be in the range of $8.40 to $8.65 for full year 2018.

The S&P Capital IQ consensus normalized EPS estimate for 2018 is $8.56.

WellCare expects total GAAP revenue to increase to $18.65 billion primarily as a result of organic growth in the company's Medicaid and Medicare Health Plans segments and the acquisition of Universal American Corp..

Additionally, the GAAP and adjusted Medicaid Health Plans medical benefits ratios are expected to decrease 330 basis points and 70 basis points year over year. The medical benefits ratios also include the effect of the Affordable Care Act industry fee reinstatement in 2018 and associated Medicaid reimbursement revenue.

The Medicare Health Plans medical benefits ratio is expected to decrease 95 basis points year over year primarily as a result of continued momentum from ongoing clinical initiatives and the reinstatement of the Affordable Care Act industry fee.

The Medicare prescription drug plan medical benefits ratio is expected to decrease 50 basis points year over year as a result of the company's 2018 bid positioning.

For full year 2017, WellCare continues to expect its adjusted EPS to be in a range of $8.25 to $8.40.

The S&P Capital IQ consensus normalized EPS estimate for 2017 is $8.40.