After the market closed, Aetna (AET) announced 2011 earnings expectations that were ahead of analysts’ expectations, predicting that it will earn $5.15 per share versus analysts’ expectations for $5.02.
The company also issued guidance for 2012, reaffirming its EPS projection:
- Medical membership is projected to grow in the fourth quarter of 2011, with year-end medical membership projected to be approximately 18.4 million members.
- Medical membership is projected to decline in the first quarter of 2012, with projected March 31, 2012 medical membership of approximately 17.9 million members. The first quarter 2012 membership decline is projected to be driven by: a reduction of approximately 500,000 commercial administrative services contract members; an increase of approximately 35,000 Medicare members, including approximately 30,000 Medicare Advantage members; and a reduction of approximately 80,000 Medicaid members, driven by the exit from the Medicaid program in the State of Connecticut. Medical membership is projected to grow over the remainder of 2012, driven by commercial insured and Medicare.
- Year-to-date through December 9, 2011, Aetna repurchased approximately 40.0 million shares at a cost of approximately $1.6 billion.
- Based on strong fourth quarter 2011 performance to date, including actual results for October and November 2011, Aetna now projects full-year 2011 operating earnings of $5.15 per share.
- Aetna’s full-year 2012 operating earnings are projected to be approximately $5.00 per share.
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