Overview
Alignment Healthcare Q3 revenue grows 43.5% yr/yr, beating analyst expectations
Company raises full-year outlook across all key metrics
Outlook
Alignment Healthcare sees full-year revenue outlook to $3.931 bln - $3.946 bln
Company expects Q4 revenue between $995 mln and $1.010 bln
Alignment Healthcare forecasts full-year adjusted EBITDA of $90 mln to $98 mln
Result Drivers
MEMBERSHIP GROWTH - Health plan membership increased by 25.9% yr/yr, contributing to revenue growth
HIGH PLAN RATINGS - 100% of members in plans rated 4 stars or higher for second consecutive year
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$993.70 mln
$981.35 mln (11 Analysts)
Q3 EPS
$0.02
Q3 Net Income
$3.72 mln
Q3 Adjusted EBITDA
$32.43 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the managed healthcare peer group is "buy"
Wall Street's median 12-month price target for Alignment Healthcare Inc is $20.00, about 8.9% above its October 29 closing price of $18.21
Press Release: ID:nGNX162tVk
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)