Evolent Health falls on annual revenue, adjusted profit forecast cut

Evolent Health

08/11/2024 15:08

** Shares of healthcare services provider Evolent Health
 EVH.N  fall 41.21% to $14.45
    ** Co cuts annual revenue forecast to be in the range of
~$2.55 billion to $2.58 billion, down from previous forecast of
~$2.56 billion to $2.60 billion 
    ** Expects annual adjusted core profit to be between ~$160
million to $175 million vs about $230 million to $245 million
previously expected
    ** Q3 rev. of $621.4 million misses est. of $627.15 million
-LSEG
    ** Posts Q3 adj. core profit of $31.8 mln vs est. of $62.7
mln, impacted by elevated medical costs
    ** Stock down ~56% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))