Aetna Q3 Profit Rises, Ups FY EPS View Yet Again

(RTTNews) - Health insurer Aetna (AET) Thursday said its third-quarter profit increased from the prior year, amid growth in revenues. Further, based on the results, the company lifted its projection on full-year 2015 operating earnings per share for the fourth time this year.

Net income declined to $560.1 million from last year's $594.5 million. Earnings per share dropped to $1.59 from $1.67.

Operating earnings were $1.90, compared to $1.79 last year. On average, 19 analysts polled by Thomson Reuters expected earnings of $1.77 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue grew to $14.953 billion from $14.728 billion in the prior year. Operating revenue improved to $14.99 billion from $14.7 billion. Analysts expected revenues of $15.22 billion.

Mark Bertolini, Aetna chairman and CEO, said, "Aetna delivered another quarter of strong results, continuing our momentum from the first half of the year. Based on these results, we are raising our projection on full-year 2015 operating earnings per share for the fourth time this year to a range of $7.45 to $7.55 per share from our prior projection of at least $7.40 per share."

Analysts look for full-year earnings of $7.53 per share.