WellPoint Q3 Adj. Profit Tops View - Quick Facts

(RTTNews) - Health insurer WellPoint, Inc. (WLP) said third-quarter net income was $630.9 million, down from $656.2 million in the comparable quarter last year. Earnings per share for the latest third quarter rose to $2.22 from $2.16 last year.

Excluding items, adjusted net income for the recent quarter rose to $671.7 million or $2.36 per share from $640.6 million or $2.10 per share in the prior year period. On average, 22 analysts polled by Thomson Reuters expected earnings per share of $2.27 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly total revenues reached $18.56 billion, a 3.9% increase, compared with the year-ago figure of $17.86 billion, with total operating revenue growing 4.3% year-over-year to $18.37 billion, from $17.62 billion. Sixteen analysts estimated $18.72 billion in revenues for the period.

For full year 2014, the company now expects net income to be within the range of $8.83 to $8.93 per share, including $0.08 per share of net favorable items in the first nine months. Excluding these items, adjusted net income is projected to be in the range of $8.75 to $8.85 per share. The company now expects operating revenue to be in the range of $73.25 billion to $73.5 billion.

Analysts now project annual earnings of $8.72 per share on revenues of $73.50 billion for 2014.

Earlier, the company expected net income to exceed $8.81 per share, including $0.21 per share of net favorable items in the first half. Excluding items, adjusted net income was projected to be greater than $8.60 per share. Annual operating revenue was expected to be more than $73.5 billion.

On October 28, 2014, the Audit Committee declared a fourth quarter 2014 dividend to shareholders of $0.4375 per share. The fourth quarter dividend is payable on December 22, 2014, to shareholders of record at the close of business on December 5, 2014.