Health insurance company Alignment Healthcare (NASDAQ: ALHC) will be reporting results this Thursday afternoon. Here’s what to look for.
Alignment Healthcare beat analysts’ revenue expectations last quarter, reporting revenues of $1.34 billion, up 31.6% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but EBITDA guidance for next quarter missing analysts’ expectations significantly. It added 9,300 customers to reach a total of 294,100.
Is Alignment Healthcare a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Alignment Healthcare’s revenue to grow 32.2% year on year, slowing from the 43.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Alignment Healthcare has a history of exceeding Wall Street’s expectations.
Looking at Alignment Healthcare’s peers in the health insurance providers segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Elevance Health posted flat year-on-year revenue, beating analysts’ expectations by 3.1%, and UnitedHealth reported flat revenue, topping estimates by 1.2%. Elevance Health traded up 1.2% following the results while UnitedHealth was also up 4.5%.
Read our full analysis of Elevance Health’s results here and UnitedHealth’s results here.
There has been positive sentiment among investors in the health insurance providers segment, with share prices up 3.6% on average over the last month. Alignment Healthcare is up 1.5% during the same time and is heading into earnings with an average analyst price target of $12.31 (compared to the current share price of $8.05).
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