HealthEquity Profit Rises; Lifts FY Revenue Guidance

(RTTNews) - HealthEquity Inc (HQY), one of the largest health savings account non-bank custodians, on Tuesday reported second-quarter net earnings of $4.4 million or $0.08 per share compared with $3 million or $0.06 per share last year.

Excluding items, proforma adjusted earnings for the quarter were $0.09 per share compared with $0.07 per share a year ago.

Revenues for the quarter were $30.5 million compared with $20.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.08 per share on revenues of $29.9 million for the quarter. Analysts' estimates typically exclude special items.

For the full year, the company continues to expect adjusted earnings of $0.28 to $0.30 per share. It now anticipates revenues of $120 million to $124 millionm, from prior guidance of $119 million to $123 million.

Analysts expect earnings of $0.30 per share on revenues of $123.5 million for the year.