Business & Finance
Magellan Health anticipates 2019 net income in the USD52m to USD79m range
10 December 2018 -

Healthcare company Magellan Health Inc (NASDAQ:MGLN) disclosed on Friday it expects net income in the USD52m to USD79m (diluted earnings per share of USD2.14 to USD3.25) range for the full year 2019.

For the full year 2019, the company anticipates adjusted net income in the USD90m to USD114m range, which equates to an adjusted EPS range of USD3.70 to USD4.69.

In addition, the company expects net revenue in the range of USD7.2bn to USD7.5bn for the full year 2019.

According to the company, the segment profit for the full year 2019 is expected to be in the range of USD270m to USD290m. The year-over-year segment profit is expected to be favourably impacted by the projected new business in 2019, the annual impact in 2019 of new business revenue sold and implemented during calendar year 2018, the same store growth within existing contracts, cost of care initiatives in Magellan Complete Care (MCC) of Virginia and other healthcare contracts, administrative cost reductions related to operational improvement actions as well as pharmacy network rate improvement actions.