Evolent Health (NYSE:EVH) posted third-quarter results yesterday that beat the earnings consensus on Wall Street but missed revenue estimates.
The Arlington, Virginia-based company reported profits of $2.1 million, or 2¢ per share, on sales of $352.6 million for the three months ended September 30 on a bottom-line gain over Q3 2021 when it reported $13 million in losses. Evolent Health also had 58.5% sales growth year-over-year.
Adjusted to exclude one-time items, earnings per share were 59¢, 49¢ ahead of The Street, where analysts were looking for sales of $356.78 million.
“Our third quarter results were strong across organic growth, margin expansion and product innovation. We also achieved another successful quarter of sales momentum, signing three new operating partnerships, bringing our total new partnership announcements to 13 for the year versus our target of 6-8,” CEO and co-founder Seth Blackley said in a news release.