Express Scripts (ESRX) reported on Monday a fourth-quarter profit that leaped 75% on higher revenue.
Continue Reading Below
Net income for the period was $511 million, compared to $292 million a year earlier. Per-share earnings checked in at 61 cents, up slightly from 59 cents. Adjusted per-share earnings rose to $1.05 from 82 cents.
Revenue for the healthcare management company more than doubled to $27.4 billion, well above the $12.1 billion reported the final three months of 2011, reflecting its acquisition of Medco last year.
Analysts were expecting earnings of $1.05 a share on revenue of $27.28 billion.
“Our financial performance in 2012 was strong, and as we look to the future, we are well positioned to capitalize on the complementary strengths of the combined organization, which enhance our ability to improve health outcomes, lower health care costs and continue to deliver long-term growth,” George Paz, chairman and chief executive, said in a statement.
For fiscal 2013, Express Scripts sees adjusted per-share earnings of between $4.20 and $4.30.