Magellan Health Services Inc Lowers FY 2013 Guidance

Tuesday, 30 Apr 2013 06:30am EDT 

Magellan Health Services Inc revised fiscal 2013 guidance and expects net revenue in the range of $3.3 billion to $3.5 billion, net income in the range of $90 million to $108 million. The Company is adjusting diluted earnings per share (EPS) guidance to be in the range of $3.27 to $3.93, which reflects the lower net income as well as the impact of share repurchase activity through April 25, 2013, but does not consider any potential future share repurchases. The decrease in the guidance is driven primarily by the assumption that our contract in Maricopa County does not extend beyond September 30, 2013, partially offset by the impact of favorable prior year care development and cost trends. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $3.4 billion, net income of $99 million and EPS of $3.73 for fiscal 2013. 

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27 Mar 2015