WellPoint reports strong quarter

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Indianapolis-based WellPoint Inc., the parent company of Anthem Blue Cross & Blue Shield of Wisconsin, today announced reported first quarter net income of $885.2 million, or $2.89 per share, up from $856.5 million, or $2.53 per share, in the same period a year ago.

“I am encouraged by the operating trends we experienced in the first quarter and the momentum we have as an enterprise. I am optimistic about the prospects for WellPoint and the opportunity we have to deliver value for our customers, members, associates and shareholders,” said Joseph Swedish, chief executive officer of WellPoint. “As I look ahead at the coming marketplace changes, there will be challenges and opportunities, and I believe we will be successful in helping to enhance health care quality and affordability across our markets and expand our role as a trusted partner advancing solutions to this country’s health care challenges.”

“Our quarterly results were ahead of our plan both at the operating gain level and below the line, and were supported by strong quality metrics,” said Wayne DeVeydt, executive vice president and chief financial officer of the firm. “We have modestly raised our full year EPS outlook as a reflection of our performance, but are still being prudent as many of the uncertainties inherent in our original guidance still exist.”

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WellPoint’s medical enrollment exceeded 35.8 million members as of March 31, 2013.

During the first quarter, the company repurchased approximately 5.5 million shares of its common stock.

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