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Evolent Health updates FY'17 guidance

Evolent Health Inc. has updated its guidance for the full year 2017.

The company now expects adjusted revenue to be in the range of $424.0 million to $428.0 million, up from previous guidance of a range of $415.0 million to $425.0 million. Evolent Health narrowed its full-year adjusted EBITDA to a range of a loss of $8.0 million to a loss of $4.0 million, compared with previous guidance of a loss of $8.0 million to a breakeven.

Third-quarter adjusted revenue is expected to be in the range of $103.0 million to $105.0 million, and adjusted EBITDA is expected to break even.

The company reported a second-quarter loss available to common shareholders of $16.9 million, or a loss of 28 cents per common share, compared to a loss of $8.4 million, or a loss of 20 cents per common share, in the same period of 2016.

The S&P Capital IQ consensus GAAP estimate for the second quarter called for a loss of 27 cents per share.