Here is why SelectQuote Inc. (SLQT) stock plummeted in the after-hours on Wednesday?

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CLNE Stock
CLNE Stock

SelectQuote Inc. (SLQT) shares declined 18.95% in after-hour on Wednesday, August 25, 2021, and closed the daily trading at $11.63. In the regular trading session on Wednesday, SLQT’s stock gained 0.70%. SLQT shares have fallen 20.50% over the last 12 months, and they have moved up 5.83% in the past week. Over the past three months, the stock has lost 30.91%, while over the past six months, it has declined 52.28%.

Let’s see is there any reason behind its latest loss?


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SLQT recent financial results announcement

On August 25, 2021, SelectQuote, Inc. (SLQT) reported its financial results for Q4 and FY 2021 which ended on June 30, 2021.

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Q4 2021 financial highlights

  • SLQT reported consolidated revenue of$188.4 million in Q4 2021 compared to $141.5 million in Q4 2020.
  • In Q4 2021 net income was $3.3 million Q4 2021 compared to $20.04 million in Q4 2020.
  • Consolidated Adjusted EBITDA was $21.3 million for Q4 2021 compared to $33.4 million in Q4 2020.

FY 2021 financial highlights

  • For FY 2021, consolidated revenue was $937.8 million compared to $531.5 million in FY 2020.
  • Consolidated net income was $131.0 million in FY 2021 compared to $$81.1 million in FY 2020.
  • Adjusted EBITDA was $228.0 million for the fiscal year ended June 30, 2021, compared to consolidated Adjusted EBITDA of $154.0 million for the fiscal year ended June 30, 2020.

SLQT partnership with Zing Health

On August 3, 2021, Zing Health partnered with SelectQuote, Inc (SLQT) to provide more exposure to its Medicare Advantage plans in Illinois, Indiana, and Michigan, promoting community health in greater Chicago and other metropolitan areas.

Heal Inc using SLQT patient engagement model

On June 30, 2021, SelectQuote, Inc (SLQT) announced that home-based primary care provider Heal, Inc. has joined Population Health’s robust patient engagement model. This model showcases the solutions Population Health, which is currently leveraging SelectQuote’s strong relationships with Medicare customers, can provide for both the consumer and the provider. This is a prime example of how Population Health is further extending and deepening the relationships that SelectQuote has with its core Medicare Advantage customers.

SLQT Inauguration on S&P SmallCap 600

SelectQuote Inc (SLQT) replaced Cooper Tire & Rubber Co. (CTB) in the S&P SmallCap 600 on Thursday, June 10. S&P MidCap 400 constituent The Goodyear Tire & Rubber Co. (NASDAQ: GT) has acquired Cooper Tire & Rubber Company in a deal that was completed on June 7, 2021.

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Conclusion

The recent financial results were unable to impress the investors and analysts which resulted in a loss of its share price in the after-hours on Wednesday. Let,s see how it performs in the coming trading sessions.

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