Humana Inc. /zigman2/quotes/203095337/composite HUM +1.99% reported Wednesday third-quarter profit that beat expectations but revenue that missed, and cut its full-year earnings outlook after a revised outlook Medicare Advantage utilization in the fourth quarter. The health care services company's stock was still inactive in premarket trading. Net income fell to $1.64 billion, or $11.84 a share, from $1.76 billion, or $10.05 a share, in the year-ago period. Excluding nonrecurring items, such as gain on Kindred at Home investment, adjusted earnings per share rose to $4.83 from $3.08 and beat the FactSet consensus of $4.66. Revenue rose 3.1% to $20.70 billion but was below the FactSet consensus of $20.90 billion. The company said it now expects overall fourth-quarter Medicare Advantage utilization to be 1.0% below baseline, compared with the guidance provided in September to be 2.5% below baseline. With the new outlook, the company said it now expects 2021 adjusted EPS to be approximately $20.50, down from previous guidance of $21.25 to $21.75. The stock has rallied 7.4% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX +2.47% has gained 4.7%.