Express Scripts Plunges After Earnings (ESRX)

Express Scripts ESRX released its first quarter earnings results after the closing bell on Monday. The company reported net income of $326.5 million or $0.61 per share, compared to $260.2 million or $0.47 per share, in the year ago period. On an adjusted basis, EPS was $0.66 versus $0.55 in last year's corresponding quarter. This compared with Wall Street consensus EPS estimates of $0.69. Gross profit margins rose from 6.4% to 7%. Revenues came in at $11.09 billion compared to $11.14 billion in last year's first quarter. This also missed analysts' consensus estimates of $11.56 billion. For fiscal 2011, ESRX sees adjusted EPS between $3.15 to $3.25. This compares to current analysts' consensus EPS estimates of $3.22. In the after hours trading session, ESRX shares have lost 7.87% to $51.01.