Anthem Updates 2017 Outlook - Quick Facts

(RTTNews) - Anthem, Inc. (ANTM) announced, for full year 2017, net income is now expected to be greater than $10.37 per share, including approximately $1.23 per share of net unfavorable items. Excluding these items, adjusted net income is now expected to be greater than $11.60.

Full year 2017 Medical membership is now expected to be in the range of 40.2-40.4 million. Fully insured membership is now expected to be in the range of 15.2-15.3 million and self-funded membership is expected to be in the range of 25.0-25.1 million. Operating revenue is now expected to be in the range of $88.0 - $89.0 billion.

Excluding items, adjusted net income was $4.68 per share in the first quarter of 2017 compared to the adjusted net income of $3.46 per share in the prior year quarter. Medical enrollment totaled approximately 40.6 million members at March 31, 2017, an increase of 1.0 million members, or 2.6 percent, from 39.6 million at March 31, 2016.

Operating revenue was $22.3 billion in the first quarter of 2017, an increase of $2.0 billion, or 9.9 percent, versus the $20.3 billion in the prior year quarter. The company said the growth in revenue reflected premium rate increases to cover overall cost across businesses. Additionally, the increase was driven by higher enrollment in the Medicaid, Medicare, and Local Group insured and self-funded businesses. These increases were partially offset by the impact of the one year waiver of the health insurance tax in 2017.

"Our solid first quarter financial performance reflects continued momentum across our businesses that positions us well for future success, as reflected in our updated 2017 outlook," said John Gallina, CFO.