Evolent Health rises after posting adjusted profit in Q1
Shares of Evolent Health are moving higher after the company last night reported Q1 adjusted earnings per share of 2c, versus Bloomberg's consensus estimate for a loss per share of (4c). The company's Q1 adjusted revenue of $144.4M topped the Bloomberg consensus of $140.85M. Frank Williams, CEO of Evolent, said in the earnings release, "We are pleased with our first quarter results and our strong start to 2018. We continue to see clear interest and momentum within both the Medicare and Medicaid segments of the market as providers look to enter into and improve on their performance in value-based care arrangements." The company now expects full year 2018 adjusted revenue to be in the range of approximately $565M-$585M. The consensus estimate is $578M, according to Bloomberg. 2018 adjusted EBITDA is expected to be in the range of approximately $18M-$23M. Bloomberg data shows the consensus EBITDA forecast to be $21.05M. Shares of Evolent Health are up $1.95, or 11.75%, to $18.55 in afternoon trading
