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Magellan Health trims FY'18 guidance again

Magellan Health Inc. has again lowered its guidance for full year 2018.

The company now projects net income in the range of $93.0 million to $117.0 million, compared with the previous expected range of $113.0 million to $137.0 million. Magellan Health expects EPS of between $3.65 and $4.59, down from its prior estimate of $4.41 to $5.35.

The company's net revenue projection was reduced to between $7.3 billion and $7.5 billion from between $7.5 billion and $7.8 billion.

Adjusted net income is anticipated to be in the range of $132.0 million to $152.0 million, compared to previous guidance of $151.0 million to $171.0 million. The company now expects adjusted EPS to be between $5.18 and $5.96, compared to prior guidance of $5.90 to $6.68.