Skip to main content

NEW YORK (TheStreet) -- Express Scripts  (ESRX) fell Wednesday after the pharmacy benefits manager reported first-quarter earnings that came up short of analysts' expectations.

Express reported adjusted earnings per share of 99 cents, excluding items, which was 2 cents short of analysts' consensus estimate, according to Thomson Reuters I/B/E/S. Net profit declined year over year to $328.3 million, or 42 cents a share, from $373 million, or 45 cents a share.

Revenue totaled $23.68 billion, which came up short of analysts' estimates of $23.8 billion.

Must Read:Warren Buffett's 10 Favorite Growth Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Express Scripts also lowered its adjusted earnings per share guidance for the full year 2014 to a range of $4.82 to $4.94 from its previous guidance of $4.88 to $5. Analysts expect $4.94 a share. The company expects a prescription volume shortfall mainly because of a delay in expected client starts from mid-2014 to early 2015. This, coupled with lost clients, caused the guidance decrease. Express Scripts said an increase in earnings per adjusted claim would partially offset the shortfall.

The stock was down 6.93% to $66.09 at 10:08 a.m. on Wednesday.

Image placeholder title

ESRX data by YCharts

STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.