2:41 a.m. April 28, 2021
- By Tomi Kilgore
Humana beats profit and revenue expectations, affirms full-year outlookHumana Inc. reported Wednesday first-quarter profit and revenue that rose above expectations, boosted by strong individual Medicare Advantage and state-based contract membership growth. The health insurance services company's stock was still inactive in premarket trading. Net income rose to $1.04 billion, or $6.39 a share, from $717 million, or $3.56 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share grew to $7.67 from $5.40, and beat the FactSet consensus of $7.07. Revenue increased 9.2% to $20.67 billion, above the FactSet consensus of $20.49 billion. The company affirmed its 2021 guidance ranges for adjusted EPS of $21.25 to $21.75 and its individual Medicare Advantage membership growth of 425,000 to 475,000. The FactSet consensus for 2021 EPS is $21.54. The stock has gained 9.4% year to date, while the S&P 500 has advanced 11.5%.
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%.
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%.