Health Insurance Innovations Inc. announced preliminary earnings results for the third quarter and a share repurchase program.
The company expects GAAP net income for the third quarter to be in the range of $5.5 million to $6.0 million, which would be an increase of about 8% to 18% compared to a year earlier. Adjusted net income is expected to be $7.3 million to $7.6 million. The company expects EBITDA to be in the range of $9.4 million to $9.9 million, which would be an increase of approximately 27% to 34% over the previous year. Adjusted EBITDA is expected to be $12.3 million to $12.8 million, or about 52% to 58% higher than the 2016 third quarter.
Health Insurance Innovations expects GAAP EPS for the period to come in at 26 cents to 30 cents, which would be an increase of about 4% to 20% over the prior-year quarter. Adjusted EPS for the period is expected to be 44 cents to 46 cents, which would be 33% to 39% higher than the previous year.
The S&P Capital IQ consensus normalized EPS estimate for the quarter is 39 cents.
Also, the company's board authorized a share repurchase program for up to $50 million of common stock through October 2019.