=WellCare (WCG) reported earnings on Tue 2 Aug 2016 (b/o)

WellCare beats by $0.83, beats on revs; raises FY16 EPS above consensus  :

• Reports Q2 (Jun) earnings of $2.23 per share, excluding non-recurring items, $0.83 better than the Capital IQ Consensus of $1.40; revenues rose 3.2% year/year to $3.59 bln vs the $3.51 bln Capital IQ Consensus.
• Co issues raised guidance for FY16, sees EPS of $4.95-5.05 from $4.55-4.70 vs. $4.64 Capital IQ Consensus Estimate. Co sees adjusted premium revenue of $13.65-13.875 bln versus prior guidance of $13.5-13.82 bln.
• Membership in the company's Medicare PDP segment decreased 33,000, or 3.2 percent year over year, to ~1.0 mln members as of June 30, 2016. Membership declined 13,000, or 1.3 percent, compared with March 31, 2016.