Reuters: Global Markets: Express Scripts: 2013 forecasts too aggressive; shares fall

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Express Scripts: 2013 forecasts too aggressive; shares fall Nov 5th 2012, 21:33 Mon Nov 5, 2012 4:33pm EST (Reuters) - U.S. pharmacy benefits manager Express Scripts Holding Co (ESRX.O) posted higher quarterly earnings on Monday but said it sees analysts' forecasts for its 2013 results as too aggressive, citing the weak business climate and unemployment outlook. The company said third-quarter earnings excluding special items were $1.02 per share, compared with 79 cents a year ago. Analysts on average were expecting 99 cents a share, according to Thomson Reuters I/B/E/S. Express Scripts raised the lower end of its forecast range for 2012 earnings by 5 cents and now projects full-year profit this year of $3.65 to $3.75 a share. But it deemed analysts forecasts for its 2013 earnings as "overly aggressive," citing an expected loss of claims from its UnitedHealthcare (UNH.N) business and the economic environment. Analysts had projected Express Scripts to earn $4.49 a share in 2013, according to Thomson Reuters I/B/E/S. The company said it expects healthcare utilization rates to remain low, and client demands and expectations to increase. The company's stock fell 11 percent in after-hours trading from a close of $62.88 Monday on Nasdaq.

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