This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

WellPoint Reports Third Quarter 2013 Results

WellPoint, Inc. (NYSE: WLP) today announced that third quarter 2013 net income was $656.2 million, or $2.16 per share. These results included net income of $0.06 per share, reflecting a favorable tax election and net investment gains, which were partially offset by expenses related to the early retirement of debt. Net income in the third quarter of 2012 was $691.2 million, or $2.15 per share, and included net income of $0.06 per share, reflecting net investment gains partially offset by acquisition-related costs.

Excluding the items noted in each period, adjusted net income was $2.10 per share in the third quarter of 2013, an increase of 0.5 percent compared with adjusted net income of $2.09 per share in the prior year quarter (refer to GAAP reconciliation table for a reconciliation to the most directly comparable measure calculated in accordance with U.S. generally accepted accounting principles, or “GAAP”).

“I am pleased to report another solid quarter for WellPoint, and a continuation of the positive business momentum we’ve developed across the organization. I am encouraged by the results in both our Commercial and Government segments in this dynamic marketplace. Today we are raising our 2013 membership and EPS guidance, reflecting our strong performance, our continued preparation and the outlook for coming market changes under the Affordable Care Act,” said Joseph Swedish, chief executive officer.

“Our third quarter results were driven primarily by lower than anticipated medical cost experience as well as favorable membership and revenue. Our results were also supported by strong operating cash flow generation,” said Wayne DeVeydt, executive vice president and chief financial officer. “Year-to-date through September 30, 2013, we have repurchased five percent of the shares outstanding at year-end 2012 for $1.2 billion. The Board of Directors increased our share repurchase authorization by $3.5 billion during the third quarter, signaling their confidence in our ability to continue deploying capital appropriately while pursuing growth opportunities across our business segments.”

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs