May 21, 2018 2:13 AM ET

Healthcare Providers and Services

Company Overview of WellCare Health Plans, Inc.

Company Overview

WellCare Health Plans, Inc. provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare PDPs. The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports for qualifying families who are not eligible for Medicaid. The Medicare Health Plans segment provides Medicare, a federal program that provides eligible persons aged 65 and over, as well as some disable...

8725 Henderson Road

Renaissance One

Tampa, FL 33634

United States

Founded in 1985

8,900 Employees

Phone:

813-290-6200

Key Executives for WellCare Health Plans, Inc.

WellCare Health Plans, Inc. does not have any Key Executives recorded.

WellCare Health Plans, Inc. Key Developments

Wellcare Health Plans, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Revises Earnings Guidance for the Full Year of 2018

WellCare Health Plans, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total revenues of $4,646.2 million compared with $3,954.2 million for the same period a year ago. Income before income taxes and equity in losses of unconsolidated subsidiaries was $161.2 million compared with $103.2 million for the same period a year ago. Net income was $101.7 million compared with $67.3 million for the same period a year ago. Net income per diluted share was $2.25 compared with $1.50 for the same period a year ago. Net cash provided by operating activities was $445.7 million compared with $361.9 million for the same period a year ago. Additions to property, equipment and capitalized software, net was $24.2 million compared with $23.8 million for the same period a year ago. Income before income taxes was $158.5 million compared to $103.2 million a year ago. Adjusted net income was $111.8 million, or $2.47 per diluted share, compared with adjusted net income of $72.0 million, or $1.61 per diluted share, for the first quarter of 2017. The year-over-year increases in GAAP and adjusted net income are primarily the result of improved Medicaid Health Plans and Medicare PDP segment MBRs as well as the acquisition in 2017 of Universal American Corp. Adjusted Premium Revenue was $4,529.5 million compared to $3,917.1 million a year ago. The company revised earnings guidance for the full year of 2018. The company is increasing its full-year 2017 adjusted EPS guidance to a range of $10.0 to $10.30 from its previous guidance range of $9.55 to $9.85 per diluted share. The company expects total adjusted premium revenue of $17.925 billion to $18.425 billion from its previous guidance range of $17.925 billion to $18.425 billion. The company expects total GAAP premium revenue to be of $18.3 billion to $18.8 billion from its previous guidance range of $18.3 billion to $18.8 billion. The company expects adjusted effective income tax rate of 34.5% to 36% from its previous guidance range of 34.5% to 36%. Adjusted depreciation & amortization $94 million to $102 million compared to previous guidance of $94 million to $102 million. Interest expense expected to be in the range of $69 million to $72 million compared to previous guidance of $69 million to $72 million.

WellCare Health Plans, Inc. to Report Q1, 2018 Results on May 01, 2018

WellCare Health Plans, Inc. announced that they will report Q1, 2018 results at 6:00 AM, Eastern Daylight on May 01, 2018

WellCare Health Plans, Inc., Q1 2018 Earnings Call, May 01, 2018

WellCare Health Plans, Inc., Q1 2018 Earnings Call, May 01, 2018

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