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Magellan Health (MGLN) Q4 Earnings Beat Estimates, Rise Y/Y
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Magellan Health, Inc.’s fourth-quarter 2019 earnings per share of $1.24 beat the Zacks Consensus Estimate by 29.2%. Moreover, the bottom line came in against the year-ago reported loss of 77 cents per share.
Revenues of $1.81 billion were down 2.3% year over year due to lower contribution from Managed Care and other. However, the top line beat the Zacks Consensus Estimate by 0.5%.
Segment profit of the company soared 354.4% year over year.
Total costs and expenses rose 5.6% year over year due to higher cost of goods sold, and depreciation and amortization.
Discover Financial Services Price, Consensus and EPS Surprise
For 2019, net revenues came in at $7.3 billion, up 2.2% year over year. Adjusted net income for the year was $91.7 per share, surging 48.7% year over year.
Segmental profit increased 10.8% year over year to $252.7 million. This upside can be attributable to solid contributions by Healthcare segment and Pharmacy Management segment.
For the entire year, unrestricted cash and investments totaled $195.4 million, up 49.8% from the level at 2018 end.
Capital Position
Cash flow from operations for the year ended 2019 was $164.8 million, up 42.3% year over year.
As of Dec 31, 2019, the company's cash and cash equivalents totaled $272.3 million, down 16.3% from the level on Dec 31, 2018.
As of Dec 31 2019, total assets of the company dipped 3.7% to $2.9 billion from the figure at 2018 end.
Total stockholder's equity decreased 8% year over year to $1.3 billion at 2019 end.
2020 Guidance
For 2020, the company expects its net revenues in the band of $7-$7.4 million. While adjusted net income is anticipated in the range of $83-$103 million, segment profit for the full year is projected from $250 million to $280 million.
Among other medical sector players that already reported fourth-quarter earnings, the bottom-line results of UnitedHealth Group Incorporated (UNH - Free Report) and HCA Healthcare, Inc. (HCA - Free Report) beat estimates while the same of Anthem Inc. missed the consensus mark.
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Magellan Health (MGLN) Q4 Earnings Beat Estimates, Rise Y/Y
Magellan Health, Inc.’s fourth-quarter 2019 earnings per share of $1.24 beat the Zacks Consensus Estimate by 29.2%. Moreover, the bottom line came in against the year-ago reported loss of 77 cents per share.
Revenues of $1.81 billion were down 2.3% year over year due to lower contribution from Managed Care and other. However, the top line beat the Zacks Consensus Estimate by 0.5%.
Segment profit of the company soared 354.4% year over year.
Total costs and expenses rose 5.6% year over year due to higher cost of goods sold, and depreciation and amortization.
Discover Financial Services Price, Consensus and EPS Surprise
Discover Financial Services price-consensus-eps-surprise-chart | Discover Financial Services Quote
Full-Year Highlights
For 2019, net revenues came in at $7.3 billion, up 2.2% year over year. Adjusted net income for the year was $91.7 per share, surging 48.7% year over year.
Segmental profit increased 10.8% year over year to $252.7 million. This upside can be attributable to solid contributions by Healthcare segment and Pharmacy Management segment.
For the entire year, unrestricted cash and investments totaled $195.4 million, up 49.8% from the level at 2018 end.
Capital Position
Cash flow from operations for the year ended 2019 was $164.8 million, up 42.3% year over year.
As of Dec 31, 2019, the company's cash and cash equivalents totaled $272.3 million, down 16.3% from the level on Dec 31, 2018.
As of Dec 31 2019, total assets of the company dipped 3.7% to $2.9 billion from the figure at 2018 end.
Total stockholder's equity decreased 8% year over year to $1.3 billion at 2019 end.
2020 Guidance
For 2020, the company expects its net revenues in the band of $7-$7.4 million. While adjusted net income is anticipated in the range of $83-$103 million, segment profit for the full year is projected from $250 million to $280 million.
Zacks Rank and Performance of Other Players
Magellan Health carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among other medical sector players that already reported fourth-quarter earnings, the bottom-line results of UnitedHealth Group Incorporated (UNH - Free Report) and HCA Healthcare, Inc. (HCA - Free Report) beat estimates while the same of Anthem Inc. missed the consensus mark.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>