Benzinga | Jul 29, 2020 07:16AM EDT

Magellan Health: Q2 Earnings Insights

Shares of Magellan Health (NASDAQ:MGLN) remained unaffected after the company reported Q2 results.

Quarterly Results

Earnings per share were down 2.33% year over year to $0.84, which missed the estimate of $0.98.

Revenue of $1,100,000,000 decreased by 38.48% from the same period last year, which missed the estimate of $1,430,000,000.

Guidance

The upcoming fiscal year's EPS expected to be between $0.63 and $1.10.

The upcoming fiscal year's revenue expected to be between $4,400,000,000 and $4,600,000,000.

How To Listen To The Conference Call

Date: Jul 29, 2020

Time: 09:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/nxyvdeia

Technicals

52-week high: $81.04

Company's 52-week low was at $30.60

Price action over last quarter: Up 9.55%

Company Overview

Magellan Health provides healthcare management services to health plans and other managed care organizations, employers, labor unions, United States government agencies, and third-party administrators. The firm operates in three segments: Healthcare, Pharmacy Management, and Corporate. The Healthcare business manages behavioral healthcare services and employee assistance program services, as well as specialty areas like diagnostic imaging. The Pharmacy Management segment includes pharmacy benefit management (PBM) services, pharmacy benefit administration for Medicaid and other government-sponsored programs, pharmaceutical dispensing operations, and clinical and formulary management programs. The Healthcare business generates the majority of revenue.