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April 29, 2020, 6:45 a.m. EDT

Humana beats profit and revenue forecasts, raises Medicare Advantage membership growth outlook

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By Tomi Kilgore

Humana Inc. /zigman2/quotes/203095337/composite HUM +0.48% 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 /zigman2/quotes/210599714/realtime SPX +1.22% has lost 12.5%.

/zigman2/quotes/203095337/composite
US : U.S.: NYSE
$ 455.95
+2.20 +0.48%
Volume: 472,211
May 13, 2021 4:05p
P/E Ratio
16.21
Dividend Yield
0.61%
Market Cap
$58.54 billion
Rev. per Employee
$1.59M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,112.50
+49.46 +1.22%
Volume: 2.16B
May 13, 2021 5:03p
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