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Wednesday, Oct 31
2012, 11:25 AM
WellCare Health Plans (WCG -13%) slides after its Q3 results missed on the bottom line this...
WellCare Health Plans (WCG -13%) slides after its Q3 results missed on the bottom line this morning. Net profit fell 57% Y/Y on weak results from its Georgia and Kentucky Medicaid programs. The company also lowered its full-year earnings estimate on the weak Kentucky results, now expecting to earn between $4.90 and $5.05 per share. Separately, it also announced plans to acquire UnitedHealthCare Group's (UNH -0.4%) South Carolina Medicaid business for an undisclosed amount.