Health Net Third-Quarter Earnings Beat Expectations
Los Angeles-based Health Net announced that its third-quarter earnings beat analysts' expectations largely because of strong sales in Western states and lower administrative costs. The company had a third-quarter net loss of $66 million, or 64 cents per share, but much of that was attributed to charges related to the pending sale of its Northeast division of UnitedHealth Group. Excluding special items, Health Net posted earnings of $69.6 million, or 67 cents per share, above analysts' expectations of 61 cents per share.
- "Earnings Roundup: Health Net: Health Insurer Tops Expectations" (Los Angeles Times, 11/4).