By Kelly Cloonan

HealthEquity raised its profit outlook for the fiscal year as it expects to benefit from expansions to health savings accounts, or HSAs, included in President Trump's tax-and-spending bill.

The custodian for HSAs said Tuesday it now expects adjusted earnings of $3.74 to $3.91 a share for the year, up from its prior outlook of $3.61 to $3.78 a share.

The company continues to forecast fiscal-year revenue of $1.29 billion to $1.31 billion.

Analysts polled by FactSet expect adjusted per-share earnings of $3.73 on revenue of $1.31 billion for the year.

Chief Executive Scott Cutler said the company expects a boost from Republicans' sprawling tax-and-spending bill, which Trump signed into law in July.

"We believe our outlook is even brighter with our national lawmakers providing the largest legislative expansion of HSAs since 2006 as more American families seek access to the financial security and tax benefits that they provide," Scott Cutler said.

The updated outlook comes as the Draper, Utah, company logged a profit of $59.9 million, or 68 cents a share, in its latest quarter, compared with $35.8 million, or 40 cents a share, a year earlier.

Adjusted earnings per share were $1.08, ahead of estimates of 91 cents a share according to analysts polled by FactSet.

Revenue rose 9% to $325.8 million, beating the $320.7 million projected by analysts.

The tally of HSAs the company manages rose 6% year-over-year in the quarter. The total amount held by those accounts jumped 12% to $33.1 billion.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

September 02, 2025 16:36 ET (20:36 GMT)

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