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The Key Takeaways
- HealthEquity shares fell Tuesday after the company's outlook for next year missed analysts' estimates.
- This news was offset by better than expected quarterly results, as revenues from all units increased from the previous year.
- The number of the company's health savings accounts and other consumer-directed benefits rose.
HealthEquity shares (HQY) fell on Tuesday, after its outlook for the next year was below expectations.
According to the company, it is expecting a full-year fiscal revenue between $1.275 and $1.295 billion. Visible Alpha’s analysts were expecting an average range that had a middle point of $1,315 billion.
HealthEquity reported strong results in the third quarter. The EPS was 78 cents, and revenues were up by 21% on an annual basis to $300.4 million. The figures were both higher than expected.
The service revenue amounted to $119.2 millions, the custodial revenues were $141 millions, and the interchange revenue totaled $40,3 million. The three categories all grew on the previous year.
Total HSA assets jumped 33%, to $30 billion. The total accounts, including HSAs as well as other CDBs (consumer-directed benefits), increased 8% from 16.5 to 16.5 million.
HealthEquity shares fell 5.6% to $95.39 Tuesday, though even with Tuesday’s drop, they've gained about 43% since the start of the year.
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Correction—December 10, 2024: This article has been updated to correct a misstatement of HealthEquity's forward guidance.
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