2:45 a.m. Nov. 3, 2020
- By Tomi Kilgore
Humana beats profit and revenue expectations, boosts MA membership growth outlookHumana Inc. reported Tuesday third-quarter profit and revenue that beat expectations and raised its full-year outlook for Medicare Advantage membership growth. The health care company's stock was still inactive in premarket trading. Net income rose to $1.76 billion, or $10.05 a share, from $888 million, or $5.14 a share, in the year-ago period. Excluding non-recurring items, such as changes in market value of publicly traded securities and the receipt of commercial risk corridor receivables previously written off, adjusted earnings per share fell to $3.08 from $5.03, but beat the FactSet consensus of $2.81. Revenue rose 23.6% to $20.08 billion, or grew 15.9% to $18.82 billion on an adjusted basis. The FactSet consensus was for revenue of $18.62 billion. The company boosted its 2020 guidance for Medicare Advantage membership growth to about 375,000 from 330,000 to 360,000. "We continue to see more Medicare beneficiaries choosing Medicare Advantage (MA) plans over Medicare-Fee-For-Service due to MA's ever-increasing value proposition," said Chief Executive Bruce Broussard. "What's driving this strong value is the fact that plans must constantly innovate to stay competitive as Medicare beneficiaries have the freedom to choose a plan that's affordable for them and that suits their lifestyle needs." Humana's stock has climbed 11.5% year to date, while the SPDR Health Care Select Sector ETF has edged up 1.6% and the S&P 500 has tacked on 2.5%.
3:45 a.m. Sept. 10, 2020
- Associated Press
Postal Service changes have significantly delayed prescription drugs, report finds Findings by Democratic senators contradicts DeJoyDelivery of mail-order prescription drugs was delayed significantly this summer after the new postmaster general ordered major changes in U.S. Postal Service operations, according to a report released Wednesday by Senate Democrats.
9:56 a.m. Aug. 5, 2020
- By Ciara Linnane
Coronavirus update: Global death toll tops 700,000 with 18.5 million confirmed cases and U.S. accounts for more than a quarter Disney posts an almost $5 billion loss as parks, film and cruise business hammered by pandemic, leaving only streaming to shineThe number of confirmed deaths across the globe from the coronavirus illness COVID-19 climbed above 700,000 on Wednesday, according to data aggregated by Johns Hopkins University, as the case tally climbed above 18.5 million, with the U.S. accounting for 4.77 million of that total, or more than a quarter.
2:47 a.m. Aug. 5, 2020
- By Tomi Kilgore
Humana's stock set to rally after profit, revenue rise above expectationsShares of Humana Inc. were indicated up nearly 3% in premarket trading Wednesday, after the health care services company reported second-quarter profit and revenue that beat expectations, while maintaining its adjusted earnings outlook. Net income rose to $2.59 billion, or $13.75 a share, from $1.07 billion, or $6.94 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share rose to $12.56 from $6.05, above the FactSet consensus of $10.27. Revenue grew 17.5% to $19.08 billion, topping the FactSet consensus of $18.64 billion. The company said as a result of the COVID-19 pandemic, admissions and utilization were "significantly depressed" in April, then increased through May and June, and were "modestly below normal" at the end of the quarter. Humana affirmed its 2020 adjusted EPS guidance range of $18.25 to $18.75, but nudged up its full-year individual Medicare Advantage membership growth outlook to 330,000 to 360,000 members from 300,000 to 350,000 members. The stock has gained 6.7% year to date through Tuesday, while the SPDR Health Care Select Sector ETF has tacked on 4.2% and the S&P 500 has gained 2.3%.
8:49 a.m. Aug. 1, 2020
- By Philip van Doorn
Here’s the stock sector you want to be in if the Democrats sweep the November elections Regulation won’t end up being as tough as fearedRegulation won’t end up being as bad as feared now.
3:04 a.m. June 4, 2020
- By Philip van Doorn
What it’s like to buy $9 billion in stocks during a market crash — this fund manager did just that David Giroux of T. Rowe Price describes what life was like during the worst moments of the stock market downturnDavid Giroux of T. Rowe Price describes what life was like during the worst moments of the stock market downturn.
2:44 a.m. April 29, 2020
- By Tomi Kilgore
Humana beats profit and revenue forecasts, raises Medicare Advantage membership growth outlookHumana Inc. reported Wednesday first-quarter profit and revenue that beat expectations, and affirmed its full-year earnings outlook while raising its Medicare Advantage (MA) membership guidance. The health Care company said net income fell to $717 million, or $3.56 a share, from $746 million, or $4.16 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $5.40, above the FactSet consensus of $4.66. Revenue rose to $18.94 billion from $16.11 billion, topping the FactSet consensus of $18.46 billion. While the impact of the COVID-19 pandemic was "not material" to first-quarter results, the company started experiencing lower hospital admissions and utilization in the second half of March, a trend which has continued in the second quarter. Humana affirmed its 2020 adjusted EPS guidance range of $18.25 to $18.75 but raised its MA membership growth estimate to a range of 300,000 to 350,000 members from 270,000 to 330,000. The stock, which was still inactive in premarket trading, has gained 3.2% over the past three months while the S&P 500 has lost 12.5%.