Express Scripts (ESRX) Earnings Top In Q1, FY17 View Up
Zacks Investment Research | Apr 25, 2017 08:52AM ET
St. Louis, MO-based pharmacy benefit manager Express Scripts Holding Company (NASDAQ:ESRX) posted first-quarter 2017 adjusted earnings per share of $1.33, beating the Zacks Consensus Estimate by a penny. Furthermore, adjusted earnings jumped 9% from the year-ago quarter.
Revenues of $24.65 billion missed the Zacks Consensus Estimate of $25.04 billion and were down roughly 0.6% on a year-over-year basis.
Notably, Express Scripts currently has a Zacks Rank #3 (Hold).
Q1 Highlights
Adjusted gross profit in the first quarter was up 1.4% year over year to $1.87 billion, highlighting a 10 basis points (bps) surge in gross margin from the year-ago quarter.
Adjusted selling, general and administrative expenses were $818.1 million, down 9.7% from the prior-year quarter.
Total adjusted claims amounted to 351.7 million in the first quarter, down 1% year over year.
Coming to EBITDA (earnings before interest, tax, depreciation and amortization) for the first quarter, Express Scripts witnessed a 3% rise to $1,496.2 million. The upside was driven by operational cost improvement backed by focus on technology, digital tools, home delivery and specialty services.
Express Scripts Holding Company Price, Consensus and EPS Surprise
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