UPDATE 2-Anthem profit beats on IngenioRx strength; backs 2020 earnings forecast [Reuters (UK)]
Anthem, Inc. (ANTM)
Last anthem, inc. earnings: 4/29 06:00 am
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Source: Reuters
Anthem profit beats on IngenioRx strength; backs 2020 earnings forecast - Reuters 3 Min Read (Reuters) - Anthem Inc ( ANTM.N ) beat quarterly estimates for revenue on Wednesday, helped by the launch of pharmacy benefits business IngenioRx and as more people opted for its health plans. Shares of the second-largest U.S. health insurer rose 1.4% in trading before the bell after the company also stood by its 2020 profit goals for the year, joining rivals UnitedHealth Group Inc ( UNH.N ), Centene Corp ( CNC.N ) and Humana Inc ( HUM.N ). The company, however, warned of uncertainty around the impact from the COVID-19 pandemic and withdrew its forecast for some key performance metrics such as benefit expense ratio - a measure of premiums paid out for medical services. For the first quarter, the company’s benefit expense ratio improved to 84.2% from 84.4% a year earlier. Analysts on average expected 84.37%, according Refinitiv IBES data. A smaller ratio is better for health insurers. An
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