Express Scripts forecast 2018 profit above estimates, shares rise
(Adds details on eViCore Healthcare acquisition, FY 2017 adjusted earnings, shares)
Dec 14 (Reuters) - Pharmacy benefit manager Express Scripts Holding Co forecast full-year 2018 adjusted earnings on Thursday that topped analysts' expectations, helped by its ongoing acquisition of eviCore Healthcare.
In October, the company said it would buy privately held specialty healthcare benefits manager eviCore healthcare to bolster its medical benefits management business.
Express Scripts said it expected adjusted full-year 2018 earnings of $7.67 to $7.87 per share, above analysts' average expectation of $7.65, according to Thomson Reuters I/B/E/S.
The company said it estimated that eviCore would have adjusted earnings before income, tax, depreciation and amortization of $265 million to $285 million in 2018.
Express Scripts' shares were up 1.8 percent at $69.83 in pre-market trading.
The company said the forecast also included the sale of its United Biosource unit to Avista Capital Partners, which was announced last month.
Express Scripts also increased its full-year 2017 adjusted earnings per share outlook to $7 to $7.08, from its earlier estimate of $6.97 to $7.05. (Reporting by Manas Mishra in Bengaluru; Editing by Saumyadeb Chakrabarty)
