Alignment Healthcare Is 'Differentiated With Durable Long-Term Growth Trajectory' In Challenging Medicare Advantage Environment: Analyst Says
Alignment Healthcare Is 'Differentiated With Durable Long-Term Growth Trajectory' In Challenging Medicare Advantage Environment: Analyst Says
On Thursday, Alignment Healthcare Inc (NASDAQ:ALHC) reported a first-quarter EPS loss of $(0.25), up from $(0.20) a year ago, missing the consensus of $(0.22).
週四，Alignment Healthcare Inc（納斯達克股票代碼：ALHC）報告稱，第一季度每股收益虧損爲0.25美元，高於去年同期的0.20美元，未達到共識的美元（0.22美元）。
The company reported sales of $628.6 million, up 43.1% Y/Y, beating the consensus of $595.13 million and the management guidance of $590 million-$600 million.
該公司公佈的銷售額爲6.286億美元，同比增長43.1％，超過了市場普遍預期的5.9513億美元和管理層預期的5.9億至6億美元。
The medical benefits ratio based on adjusted gross profit was 90.9%.
基於調整後毛利的醫療福利比率爲90.9％。
Health plan membership at the end of the quarter was approximately 165,100, up 50.5% Y/Y.
截至本季度末，健康計劃成員人數約爲165,100人，同比增長50.5％。
Guidance: Alignment Healthcare expects Q2 revenues of $625 million—$635 million versus the consensus of $608.65 million.
指導方針：Alignment Healthcare預計第二季度收入爲6.25億美元至6.35億美元，而市場普遍預期爲6.0865億美元。
The company raised its fiscal year 2024 sales outlook from $2.38 billion—$2.41 billion to $2.495 billion—$2.525 billion, compared to the consensus of $2.41 billion.
該公司將其2024財年的銷售前景從23.8億美元（24.1億美元）上調至24.95億美元至25.25億美元，而市場普遍預期爲24.1億美元。
Health Plan Membership is expected to be 167,000- 169,000 at the end of the second quarter and between 170,000-172,000 at the end of the fiscal year 2024 compared to the prior guidance of 162,000-164,000.
預計到第二季度末，健康計劃成員人數將爲16.7萬至16.9萬人，到2024財年末將在17萬至17.2萬人之間，而之前的預期爲16.2萬至16.4萬人。
William Blair says the first quarter print is favorable, starkly contrasting to what other larger Medicare Advantage (MA) plans are reporting, especially regarding overall medical benefit cost trends versus guidance.
威廉·布萊爾說，第一季度的數據良好，與其他大型Medicare Advantage（MA）計劃報告的形成鮮明對比，尤其是在整體醫療福利成本趨勢與指導方面。
The analyst notes that Alignment reported largely stable cost trends, including inpatient admissions per thousand, tracking slightly below historical performance at 151 versus a historical range of 155 to 165.
分析師指出，Alignment報告的成本趨勢基本穩定，包括每千人住院人數，略低於歷史表現，爲151例，而歷史範圍爲155至165例。
Looking forward, William Blair writes that investor sentiment remains challenging for MA-focused operators due to the mixed utilization environment and a disappointing final rate update for calendar 2025.
展望未來，威廉·布萊爾寫道，由於混合利用環境和2025年日曆的最終利率更新令人失望，投資者情緒對專注於均市的運營商來說仍然充滿挑戰。
"We continue to believe Alignment is differentiated in the market with a durable long-term growth trajectory. Importantly, we also continue to view the management team as highly thoughtful, strategic, and focused on winning in all the company's key markets," William Blair writes.
“我們仍然認爲，Alignment具有持久的長期增長軌跡，在市場上與衆不同。重要的是，我們還繼續將管理團隊視爲深思熟慮、戰略性強，並專注於在公司的所有關鍵市場取得勝利，” 威廉·布萊爾寫道。
William Blair reiterates the Outperform rating with shares trading near the low end of managed care peers.
威廉·布萊爾重申了跑贏大盤的評級，股票的交易價格接近管理式醫療同行的低端。
Price Action: ALHC shares are up 23.40% at $6.49 at last check Friday.
價格走勢：週五最後一次檢查時，ALHC股價上漲23.40％，至6.49美元。
Photo Vlad Deep for Unsplash
Unsplash 的 Vlad Deep
譯文內容由第三人軟體翻譯。