Insurer eHealth hits 3-year low after big Q3 loss, FY outlook cut

eHealth

08/11/2021 14:41

** Insurer eHealth Inc  EHTH.O  extends pre-market losses,
slumping around 35% after market open at $26.5 - its lowest
since 2018 - after posting a massive Q3 results miss and
slashing its full-year outlook
    ** Co posts revenue of $63.9 mln compared with estimates of
$93 mln, reports loss per share of $1.78 versus estimated loss
per share of $1.02 - Refinitiv data 
    ** Trims full-year revenue outlook to $535 mln - $575 mln
from prior $660 mln - $700 mln
    ** Expects full-year loss per share of 45 cents - $1.13
versus full-year EPS estimates of $2.77 - $3.26 previously
    ** Analysts had expected full-year revenue of $690.7 mln and
EPS of $2.91, per Refinitiv data
    ** Co says revenue decline was due to $8.8 mln decrease in
U.S. Medicare commission revenue and $14.6 mln decrease in
Medicare advertising revenue  urn:newsml:reuters.com:*:nNDLVZ879
    ** Stock is the worst performer on the Nasdaq 100; shares
down 43% YTD

 (Reporting by Anisha Sircar in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))