View Aetna's (NYSE: AET) Q1 Earnings Report
Highlights:
- First quarter revenue declined 2 percent, to $7.7 billion, largely due to a decrease in commercial insured membership
- Q1 net income rose three percent, to $577 million. Operating earnings were $1.43 per share
- Total medical cost benefit ratio was 79 percent, three points lower than the same period last year. The company's Medicare and Medicaid medical benefit ratios were 87 percent and 90 percent, respectively
- Medical membership totaled 17.8 million members
- Full-year 2011 operating earnings are expected to be between $4.20 and $4.30 per share
Notable quote: "As a result of [CMS] sanctions, our 2011 Medicare membership and operating results have been adversely affected because we did not participate in the 2010 open enrollment for individual 2011 Medicare plans, which occurred between November 15, 2010 and December 31, 2010. We are cooperating fully with CMS on its review and are working to resolve the issues CMS has raised as soon as possible. If the CMS sanctions remain in effect or we fail to obtain extensions of the limited waiver through the end of those sanctions, our Medicare membership and operating results could continue to be adversely affected.”
For more information:
- Read the company's 10-Q report filed with the SEC
- Read this press release
- Check out Aetna's current earnings estimates from CNN Money
- Read Fierce's coverage of Aetna
- Aetna's website: www.aetna.com