Anthem Inc. (NYSE: ANTM) reported a 2% decline in earnings for the first quarter of 2020 due to an increase in income tax expenses as well as higher costs and expenses. The top-line jumped by 21% driven by pharmacy product revenue related to the launch of IngenioRx as well as higher premium revenue.
For full-year 2020, the company expects GAAP EPS to be greater than $21 and adjusted EPS to be greater than $22.30. The company is withdrawing all other guidance metrics for 2020 until visibility improves from the unprecedented uncertainty around the COVID-19 pandemic. In response to the COVID-19 pandemic, the company has temporarily suspended share repurchase activity to enhance liquidity and financial flexibility.
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