- Magellan Health Services (MGLN) forecasts 2014 net profit of $57-73M, which translates to EPS of $2.00-2.56. Consensus for adjusted EPS is $3.27.
- Magellan sees net revenues at $3.61-3.8B, above Street expectations of $3.41B.
- The company predicts segment profit of $215-235M and cash flow from operations of $181-203M.
- Magellan is targeting a long-term compound annual growth rate in revenue and EPS of 20%.
- "By the end of 2014, we anticipate a more stable customer base from which we can achieve earnings growth in future years," says CFO Jon Rubin.
- Magellan has repurchased $112.5M in shares out of $300M worth that the board has authorized. As of yesterday, there were approximately 27.5M shares outstanding.
- The company also reaffirms its outlook for 2013, which was updated in October. (PR)
Magellan expects 2014 net profit of $57-73M
Dec 17 2013, 07:04 ET