WellPoint Raises Financial OutlookPosted: Updated:
Indianapolis-based WellPoint Inc. (NYSE: WLP) has raised its 2014 financial guidance. Chief Executive Officer Joe Swedish says "solid growth" in membership and revenue so far this year led to the move.
March 21, 2014
Indianapolis, Ind. -- WellPoint, Inc. (NYSE: WLP) today raised its full year 2014 earnings outlook and provided detailed financial guidance for the year in conjunction with its Investor Conference taking place in New York City. The Company now expects full year 2014 net income to be greater than $8.20 per share, driven by growth of 1.0 to 1.3 million net new medical members and mid-single digit percent increases in both operating revenue and operating gain. Additional details of the outlook are included in the financial guidance summary table.
"We are building on the positive operating momentum we've achieved across the organization over the last year. While it is early in 2014, we are encouraged by results thus far across our businesses and we believe Exchanges are tracking our general expectations. As such, we are raising our 2014 earnings outlook from 'greater than $8.00' per share to 'greater than $8.20' per share. Our updated outlook reflects solid growth in membership, revenue and operating earnings. Our outlook also remains prudent in light of the dynamic nature of the marketplace, and we believe this is a point from which we will grow in the future. We have entered a period of tremendous change across the health care system and are confident that WellPoint has the leadership, assets and strategy to drive profitable growth over the next several years," said Joseph Swedish, chief executive officer.
Today's conference is scheduled to begin at 8:00 a.m. Eastern Daylight Time (EDT) and conclude by 1:00 p.m. EDT. All interested parties are invited to listen to a webcast of the conference by visiting www.wellpoint.com and selecting the “Investors” link. Following the presentation, a webcast replay will be available at www.wellpoint.com for at least one month.
About WellPoint, Inc.
WellPoint is one of the nation’s leading health benefits companies. We believe that our health connects us all. So we focus on being a valued health partner and delivering quality products and services that give members access to the care they need. With approximately 68 million people served by our affiliated companies including approximately 36 million enrolled in our family of health plans, we can make a real difference to meet the needs of our diverse customers. We’re an independent licensee of the Blue Cross and Blue Shield Association. We serve members as the Blue Cross licensee for California; and as the Blue Cross and Blue Shield licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, New York (as the Blue Cross Blue Shield licensee in 10 New York City metropolitan and surrounding counties and as the Blue Cross or Blue Cross Blue Shield licensee in selected upstate counties only), Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), and Wisconsin. In most of these service areas, our plans do business as Anthem Blue Cross, Anthem Blue Cross and Blue Shield, Blue Cross and Blue Shield of Georgia and Empire Blue Cross Blue Shield, or Empire Blue Cross (in the New York service areas). We also serve customers in other states through our Amerigroup and CareMore subsidiaries. To find out more about us, go to wellpoint.com.
Source: WellPoint Inc.