Earnings Review and Free Research Report: Express Scripts Holding EPS Increased 9.1%

Research Desk Line-up: Cigna Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 3, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Express Scripts Holding Co. (NASDAQ: ESRX), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=ESRX, following the Company's posting of its financial results on October 24, 2017, for the third quarter fiscal 2017. The pharmacy benefit management Company's operating income increased 4.4% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Health Care Plans industry. Pro-TD has currently selected Cigna Corporation (NYSE: CI) for due-diligence and potential coverage as the Company reported on November 02, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on Cigna when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ESRX; also brushing on CI. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For three months ended September 30, 2017, Express Scripts' revenue decreased 2.8% to $24.68 billion from $25.41 billion in Q3 FY16. Revenue was below analysts' expectations of $25.61 billion.

During Q3 FY17, Express Scripts' total adjusted claims were 343.6 million compared to 347.1 million in Q3 FY16. The Company's total adjusted claims excluding transitioning clients were 286.4 million, down 0.6% on a y-o-y basis.

For the reported quarter, Express Scripts' gross profit decreased 1.6% to $2.24 billion from $2.27 billion in Q3 FY16. For the reported quarter, the Company's gross margin increased 10 basis points to 9% of revenue from 8.9% of revenue in Q3 FY16. For the reported quarter, Express Scripts' adjusted gross profit decreased 1.4% to $2.30 billion from $2.33 billion in Q3 FY16.

During Q3 FY17, Express Scripts' earnings before interest, tax, depreciation, and amortization (EBITDA) decreased 1.2% to $1.92 billion from $1.95 billion in the same period last year. For the reported quarter, the Company's EBITDA margin increased 10 basis points to 7.7% of revenue from 7.6% of revenue in Q3 FY16. For the reported quarter, Express Scripts' adjusted EBITDA was $1.95 billion on par with the $1.95 billion reported in Q3 FY16.

For the reported quarter, the Company's selling, general, and administrative (SG&A) expenses decreased 11.5% to $759.3 million from $858.1 million in Q3 FY16.

During Q3 FY17, Express Scripts' operating income increased 4.4% to $1.48 billion from $1.42 billion in Q3 FY16. For the reported quarter, the Company's operating margin increased 40 basis points to 5.9% of revenue from 5.5% of revenue in Q3 FY16.

For the reported quarter, Express Scripts' net income increased 16.4% to $841.7 million on a y-o-y basis from $722.9 million in Q3 FY16. During Q3 FY17, the Company's adjusted net income was $1.09 billion, almost on par the with $1.09 billion reported in Q3 FY16. During Q3 FY17, the Company's diluted EPS increased 26.9% to $1.46 on a y-o-y basis from $1.15 in the same period last year. During Q3 FY17, the Company's adjusted diluted EPS increased 9.1% to $1.90 on a y-o-y basis from $1.74 in the same period last year. Adjusted diluted EPS was in-line with analysts' expectations of $1.90.

Balance Sheet

As on September 30, 2017, Express Scripts' cash and cash equivalents increased 10.3% to $3.40 billion from $3.08 billion on December 31, 2016. For the reported quarter, the Company's net receivables decreased 2.6% to $6.87 billion from $7.06 billion in Q4 FY16.

For the reported quarter, Express Scripts' inventories increased 4.7% to $2.05 billion from $1.96 billion in Q4 FY16.

For the reported quarter, the Company's accounts payable increased 7.3% to $4.38 billion from $3.88 billion in the fourth quarter of last year.

For the reported quarter, the Company's long-term debt decreased 7.5% to $13.73 billion from $14.85 billion in Q4 FY16.

During FY2017, Express Scripts' YTD cash provided by operating activities increased 49% to $3.98 billion from $2.67 billion in the same period last year.

Outlook

For FY17, Express Scripts expects adjusted EBITDA to be in the range of $7.35 billion to $7.47 billion and adjusted diluted EPS to be in the range of $6.97 to $7.05.

The Company estimates total adjusted claims to be in the range of 1.39 billion to 1.41 billion for fiscal 2017.

Stock Performance

On Thursday, November 02, 2017, the stock closed the trading session at $60.32, declining 3.21% from its previous closing price of $62.32. A total volume of 3.04 million shares have exchanged hands. The stock is trading at a PE ratio of 9.93. At Thursday's closing price, Express Scripts' stock net capitalization stands at $34.49 billion.

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