WASHINGTON (AP) — Express Scripts says its first-quarter earnings fell 12 percent, as the nation's largest pharmacy benefits manager posted lower revenue.
The company scaled back its 2014 earnings-per-share guidance to between $4.82 and $4.94 based on delays in several customer implementation plans, among other reasons.
The St. Louis company earned $328 million, or 42 cents per share, in the three months that ended March 31. That was down from $373 million, or 45 cents per share, in last year's quarter. Adjusted profit was 99 cents per share. Revenue fell 8.8 percent to $23.69 billion.
Analysts forecast, earnings of $1.01 per share on revenue of $23.83 billion.
Pharmacy benefits managers run prescription drug plans for employers, insurers and other customers. They process mail-order prescriptions and handle bills for prescriptions filled at retail pharmacies.