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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowWellPoint Inc., the biggest U.S. health insurer by enrollment, has confirmed its 2010 earnings forecast of at least $6 a share, below analysts’ $6.11 estimate.
Year-end medical enrollment will be 33.3 million members, while operating revenue will total about $59 billion, the Indianapolis-based company said Wednesday in a regulatory filing. Fourteen analysts surveyed by Bloomberg estimated 2010 sales of $58.5 billion, on average.
The forecast doesn’t include the possible impact of federal health care reform, WellPoint said. The company also projected operating cash flow for the year of about $1.1 billion.
WellPoint topped analysts’ estimates for fourth-quarter profit in January as premium increases helped offset membership declines sparked by the recession. Net income for the quarter jumped more than eightfold, to $2.74 billion, or $5.95 a share, which included the $4.7 billion sale of the company’s pharmacy benefits business. Adjusted earnings of $1.16 a share exceeded by 13 cents the average estimate of 18 analysts.
WellPoint shares rose 45 cents, to $61.97 each, Tuesday in New York Stock Exchange composite trading. The shares had surged 71 percent in the past 12 months.
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