WellPoint Inc., the nation's second-largest health insurer, will issue on Wednesday its first quarterly earnings report since Chairwoman and CEO Angela Braly abruptly resigned in August.
WHAT TO WATCH FOR: The Indianapolis company surprised Wall Street in July when it cut its 2012 forecast and reported earnings that both fell and missed expectations. The investment community will want to know if any more surprises await.
WellPoint is still making money, but its net income has decreased in every quarter, year over year, since the second quarter of 2011. The insurer's performance has frustrated several large shareholders.
Braly resigned Aug. 28, and WellPoint named John Cannon, its executive vice president and general counsel, to serve as interim CEO. Company shares have climbed about 5 percent since Braly stepped down, but the stock price is down more than 7 percent so far this year. Shares traded at $60.72 Monday morning.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
