TAMPA, Fla. (AP) — WellCare Health Plans Inc. (WCG) on Tuesday reported fourth-quarter earnings of $55.9 million.
On a per-share basis, the Tampa, Florida-based company said it had profit of $1.11. Earnings, adjusted for non-recurring costs, came to $1.63 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The Medicare and Medicaid coverage provider posted revenue of $6.07 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $5.85 billion.
WellCare expects full-year earnings in the range of $13.25 to $13.50 per share, with revenue in the range of $25.8 billion to $26.7 billion.
WellCare shares have increased 19 percent since the beginning of the year. The stock has risen 37 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WCG at https://www.zacks.com/ap/WCG
