Key Developments: Triple S Management Corp (GTS)
22.10USD
19 Jun 2013
$-0.77 (-3.37%)
$22.87
$22.93
$23.21
$22.05
337,677
128,033
$23.70
$16.05
Latest Key Developments (Source: Significant Developments)
Triple S Management Corp Prices Secondary Offering
Triple S Management Corp announced the pricing of the previously announced secondary offering of 5,400,368 shares of Class B common stock (the Offering) by certain selling shareholders. As part of the Offering, 4,400,368 shares are being sold to the public and 1,000,000 shares are being purchased by the Company, in each case, at a price of $18.25 per share. The selling shareholders include certain holders of Class A common stock who have elected to convert shares of Class A common stock into shares of Class B common stock in connection with the Offering. Triple-S will not receive any proceeds from the Offering. Subject to customary conditions, the Offering is expected to close on May 22, 2013. Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC served as joint book-running managers, with Stifel, Nicolaus & Company, Incorporated acting as co-manager for the Offering. The underwriters have been granted a 30-day option to purchase up to an additional 810,055 shares of Class B common stock from the selling shareholders to cover overallotments, if any. The Company will not receive any proceeds from the exercise of the underwriters' option to purchase additional shares. Full Article
Triple S Management Corp Reaffirms FY 2013 Guidance
Triple S Management Corp reaffirmed fiscal 2013 guidance and expects consolidated operating revenues in the range of $2.35 -$2.45 billion, consolidated operating income in the range of $73.5 -$83.5 and pro forma earnings per share (EPS) in the range of $1.90-$2.00. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $2.36 billion, EBIT of $78.68 million and EPS of $2.00 for fiscal 2013. Full Article
Triple S Management Corp Issues FY 2013 Guidance Below Analysts' Estimates
Triple S Management Corp announced that for fiscal 2013, it expects consolidated operating revenues in the range of $2.35 -$2.45 billion, consolidated operating income in the range of $73.5 -$83.5 and pro forma earnings per share (EPS) in the range of $1.90-$2.00. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $2.51 billion and EBIT of $89.4 million for fiscal 2013. Full Article
Triple S Management Corp Reaffirms FY 2012 Guidance
Triple S Management Corp reaffirmed fiscal 2012 guidance and expects consolidated operating revenue to remain unchanged at $2.3 billion to $2.4 billion. The operating income range is to be in a range of $67 million to $77 million. Earnings per share is to be in a range of $1.80-$1.85. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $2.42 billion and EPS of $1.83 for fiscal 2012. Full Article
Triple S Management Corp Reaffirms FY 2012 Guidance
Triple S Management Corp reaffirmed fiscal 2012 guidance and expects consolidated operating revenue to remain unchanged at $2.3 billion to $2.4 billion. The operating income range is to be in a range of $67 million to $77 million. Earnings per share is to be in a range of $1.80-$1.85. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $2.38 billion for fiscal 2012. Full Article
Triple S Management Corp Appoints New Chief Financial Officer
Triple S Management Corp announced the appointment of Mr. Amilcar L. Jordan as Vice President and Chief Financial Officer, effective July 2, 2012. Full Article
Triple S Management Corp Reaffirms FY 2012 Revenue Guidance; Lowers FY 2012 Earnings Guidance-Conference Call
Triple S Management Corp announced that for fiscal 2012, it expects consolidated operating revenue to remain unchanged at $2.3 billion to $2.4 billion. The operating income range was also adjust downward to a range of $67 million to $77 million. Earnings per share has been reduced to a range of $1.80-$1.85 from $2.32-$2.38. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $2.4 billion and EPS of $2.14 for fiscal 2012. Full Article
Triple S Management Corp Issues FY 2012 Guidance; Revenue Guidance Above Analysts' Estimates
Triple S Management Corp announced that for fiscal 2012, it expects consolidated operating revenues in the range of $2.3 to $2.4 billion and earnings per share (EPS) of $2.32-$2.38. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $2.2 billion and EPS of $2.33 for fiscal 2012. Full Article
Triple S Management Corp's Subsidiary Finalizes Contract For Five Regions Of Puerto Rico Medicaid Plan
Triple S Management Corp announced that its Triple-S Salud subsidiary signed yesterday a definitive agreement with the Puerto Rico Health Insurance Administration (ASES) to administer healthcare services for the Metro North, North, San Juan, Northeast and West regions of Puerto Rico's health insurance program (Medicaid), known as MiSalud. The MiSalud program currently services approximately 840,000 members in these regions. Under the contract, which has a 20-month term commencing November 1, 2011, Triple-S Salud will receive a monthly per-member, per-month administrative fee for its services and will not bear the insurance risk of the program. Full Article
Triple S Management Corp Awarded Five Regions Of Puerto Rico Medicaid Plan
Triple S Management Corp announced that on October 1, 2011, the Puerto Rico Health Insurance Administration (ASES) notified its subsidiary Triple-S Salud that it has been selected to administer healthcare services for the Metro North, North, San Juan, Northeast and West regions of the Puerto Rico Government's health insurance program (Medicaid), known as MiSalud, for a 20-month term commencing November 1, 2011. This selection also includes minors under custody of the Department of the Family and victims of domestic violence. The MiSalud program currently services approximately 840,000 members in these regions. The appointment of Triple-S Salud is subject to the execution of a definitive contract with ASES and the approval of the Centers for Medicare & Medicaid Services (CMS). While there can be no assurance that the parties will reach agreement, Triple-S expects to conclude negotiations with ASES within a week. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
