Free Research Report as Express Scripts’ Adjusted Earnings Surged 33%

LONDON, UK / ACCESSWIRE / May 31, 2018 / If you want access to our free earnings report on Express Scripts Holding Co. (NASDAQ: ESRX) (“Express Scripts”), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ESRX. The Company reported its first quarter fiscal 2018 operating and financial results on May 02, 2018. The pharmacy benefit manager outperformed top- and bottom-line expectations. Additionally, the Company provided guidance for the upcoming quarter. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Express Scripts Holding most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=ESRX

Earnings Highlights and Summary

For the three months ended March 31, 2018, Express Scripts reported revenues of $24.77 billion compared to $24.65 billion in Q1 2017. The Company’s revenue numbers beat analysts’ estimates of $24.76 billion.

During Q1 2018, Express Scripts’ adjusted claims were down 3% to 340.1 million from the year ago same quarter, primarily due to the loss of certain public-sector clients in the core business during the previous year’s selling season, but were consistent with the Company’s guidance for the reported quarter.

Express Scripts announced a consolidated net income of $623.2 million, or $1.10 per diluted share, in Q1 2018 compared to $546.3 million, or $0.90 per diluted share, in Q1 2017.

Express Scripts’ consolidated adjusted earnings surged 33% to $1.77 per diluted share in the reported quarter compared to $1.33 per diluted share in Q1 2017, and were ahead of Wall Street’s estimates of $1.76 per share. Express Scripts’ earnings per diluted share, on a GAAP and an adjusted basis, were up on a y-o-y basis, primarily due to reduced shares outstanding and reduced income tax expenses.

During Q1 2018, Express Scripts’ adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were up 3% to $1.54 billion compared to $1.50 billion in Q1 2017, primarily due to the inclusion of eviCore in the reported quarter, and supply chain initiatives, including a continued strong performance from the Company’s SafeGuardRx suite of solutions and a growth in its Accredo specialty pharmacy.

Core Business Review

During Q1 2018, Express Scripts’ Core Business’ total adjusted claims were down 3% to 284.0 million on a y-o-y basis, primarily due to the losses of certain public-sector clients. During the reported quarter, the Company generated $1.06 billion of core business adjusted EBITDA, representing a growth of 12% on a y-o-y basis.

Acquisition Update

On March 08, 2018, Express Scripts entered into an Agreement and Plan of Merger with Cigna Corp., whereby Cigna will acquire Express Scripts in a cash and stock transaction. The merger is expected to be completed by December 31, 2018.

Cash Matters

During Q1 2018, Express Scripts’ net cash flow provided by operating activities surged 51% to $1.51 billion on a y-o-y basis, due to a higher net income and changes in working capital primarily related to the timing of accounts payable payments.

For Q1 2018, Express Scripts repurchased a total of 5.4 million shares under its share repurchase program for an aggregate of $411.3 million. The Company has currently suspended its share repurchase program pursuant to the Merger Agreement with Cigna.

Outlook

Express Scripts is forecasting total adjusted claims to be in the range of 335 million to 345 million for the second quarter of the fiscal year 2018, of which 280 million to 290 million are attributable to the core business. The Company’s consolidated adjusted earnings per diluted share are estimated to be in the band of $2.18 to $2.22 for the upcoming quarter, which represents a growth of 26% to 28% on a y-o-y basis.

Stock Performance Snapshot

May 30, 2018 – At Wednesday’s closing bell, Express Scripts’ stock marginally advanced 0.16%, ending the trading session at $76.21.

Volume traded for the day: 2.69 million shares.

Stock performance in the last month – up 0.67%; previous three-month period – up 1.01%; past twelve-month period – up 27.87%; and year-to-date – up 2.10%

After yesterday’s close, Express Scripts’ market cap was at $42.65 billion.

Price to Earnings (P/E) ratio was at 7.29.

The stock is part of the Healthcare sector, categorized under the Health Care Plans industry. This sector was up 1.4% at the end of the session.

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