Aetna Tightens FY16 Adj. EPS View After Q3 Results Top Estimates - Quick Facts

(RTTNews) - Health insurer Aetna Inc. (AET) on Thursday lifted its fiscal 2016 forecast for net earnings per share, while tightened operating earnings view.

Aetna now projects full-year net income per share of $6.89 to $6.99, compared to previous estimate of $6.28 to $6.48 per share. The company now expects operating earnings per share of $7.95 to $8.05, compared to previous view of $7.90 to $8.10.

On average, 20 analysts polled by Thomson Reuters expect earnings of $8.05 per share for the year. Analysts' estimates typically exclude special items.

In its third quarter, net income increased 8 percent to $603.9 million from $560.1 million last year. Earnings per share were $1.70, up 7 percent from $1.59 a year ago.

Operating earnings were $734.3 million or $2.07 per share, compared to $668.6 million or $1.90 per share a year ago.

Total revenue increased 6 percent to $15.78 billion from prior year's $14.95 billion.

Analysts expected earnings of $2.03 per share on revenues of $15.71 billion for the quarter.

The increase in total revenue and operating revenue was primarily due to higher Health Care premium yields and membership growth in Aetna's Government business, partially offset by membership declines in Aetna's Commercial Insured products.