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WellCare expects higher premium revenue, earnings in 2017

WellCare Health Plans Inc. projects adjusted EPS to be in the range of $6.00 to $6.25 for full year 2017.

The S&P Capital IQ consensus normalized EPS estimate for 2017 is $6.31.

WellCare expects a 9% year-over-year increase in total GAAP premium revenue and 11% year-over-year increase in adjusted premium revenues in 2017 due to organic growth in its Medicaid and Medicare Health Plans segments and the pending acquisition of Care1st Health Plan Arizona Inc. and One Care by Care1st Health Plan of Arizona Inc. that is expected to close on Jan. 1, 2017.

WellCare said the 2017 guidance does not include its pending acquisition of Universal American Corp. which is expected to close in the second quarter of 2017.

For full year 2016, WellCare continues to expect adjusted EPS in the range of $5.35 to $5.45.

The S&P Capital IQ consensus normalized EPS estimate for 2016 is $5.43.