WellCare Health Plans (NYSE: WCG) reported earnings on May 3. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), WellCare Health Plans beat expectations on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share dropped significantly. GAAP earnings per share dropped significantly.

Margins dropped across the board.

Revenue details
 WellCare Health Plans chalked up revenue of $2.26 billion. The eight analysts polled by S&P Capital IQ looked for sales of $2.17 billion on the same basis. GAAP reported sales were 25% higher than the prior-year quarter's $1.79 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.63. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.69 per share. Non-GAAP EPS of $0.63 for Q1 were 52% lower than the prior-year quarter's $1.32 per share. GAAP EPS of $0.49 for Q1 were 58% lower than the prior-year quarter's $1.17 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 11.1%, 390 basis points worse than the prior-year quarter. Operating margin was 1.1%, 340 basis points worse than the prior-year quarter. Net margin was 1.0%, 190 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $2.22 billion. On the bottom line, the average EPS estimate is $1.25.

Next year's average estimate for revenue is $8.98 billion. The average EPS estimate is $4.86.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 439 members out of 481 rating the stock outperform, and 42 members rating it underperform. Among 126 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 117 give WellCare Health Plans a green thumbs-up, and nine give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on WellCare Health Plans is outperform, with an average price target of $67.40.

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