Aetna Inc. Boosts EPS Outlook Despite Negative Q1 Revenue Growth
Written by StockNews.com
Aetna Inc. (AET) early Tuesday posted mixed first quarter earnings results and lifted its full-year forecast, despite a downturn in revenue that missed expectations.
The Hartford, CT-based healthcare benefits giant reported Q1:
- earnings per share (EPS) of $2.71, which was $0.36 better than the Wall Street consensus estimate of $2.35 [and]
- revenues fell 3.4% from last year to $15.16 billion, however, missing analysts’ view for $15.39 billion.
Looking ahead, AET:
- now expects a full-year EPS outlook...of $8.80 to 9.00, up from a prior $8.55 and in-line with analysts’ consensus estimate of $8.88.
The company commented via press release:
“This strong start to the year has enabled Aetna to absorb continued pressure from our individual Commercial products while increasing investment in our growth initiatives and raising our full-year 2017 earnings per share projections.”
...Year-to-date, AET has gained 10.95%, versus a 7.24% rise in the benchmark S&P 500 index during the same period....
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