WellCare Health Plans, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported total revenues of $5,058.1 million against $4,402.9 million a year ago. Income from operations was $208.6 million compared to $211.9 million a year ago. Income before income taxes and equity in losses of unconsolidated subsidiaries was $208.6 million compared to $211.9 million a year ago. Income before income taxes was $215.2 million compared to $235.1 million a year ago. Net income was $130.6 million compared to $171.6 million a year ago. Diluted earnings per common share were $2.70 compared to $3.82 a year ago. Premium Revenue (GAAP) was $4,988.8 million compared to $4,390.9 million a year ago. Adjusted premium revenue was $4,885.8 million compared to $4,361.4 million a year ago. Adjusted revenue was $4,955.1 million compared to $4,373.4 million a year ago. On Non-GAAP basis, net income was $161.2 million or $3.33 diluted earnings per share compared to $183.6 million or $1.08 diluted earnings per share a year ago.

For the nine months, the company reported total revenues of $14,343.3 million against $12,662.1 million a year ago. Income from operations was $603.7 million compared to $457.0 million a year ago. Income before income taxes and equity in losses of unconsolidated subsidiaries was $603.7 million compared to $430.9 million a year ago. Income before income taxes was $603.6 million compared to $453.0 million a year ago. Net income was $383.9 million compared to $313.0 million a year ago. Diluted earnings per common share were $8.29 compared to $6.97 a year ago. Net cash provided by operating activities was $198.0 million compared to $1,245.5 million a year ago. Additions to property, equipment and capitalized software, net amounted to $87.5 million compared to $92.6 million a year ago. Premium Revenue (GAAP) was $14,227.7 million compared to $12,631.5 million a year ago. Adjusted premium revenue was $13,934.5 million compared to $12,540.9 million a year ago. Adjusted revenue was $14,050.1 million compared to $12,571.5 million a year ago. On Non-GAAP basis, net income was $439.9 million or $9.50 diluted earnings per share compared to $369.0 million or $8.22 diluted earnings per share a year ago.

The company revised earnings guidance for the full year 2018. For the full year, the company revised adjusted EPS guidance to a range of $10.90 to $11.00 from its previous guidance range of $10.70 to $10.90 per diluted share. GAAP total revenue is expected to be around $20.0 billion to $20.3 billion, Adjusted total revenue is expected to be around $19.6 billion to $19.9 billion, interest expense is expected to be around $87 million to $89 million and adjusted effective income tax rate is expected to be around $34.0% to 35.0%.