Humana tops first-quarter revenue and earnings expectations
Humana Inc. reported first-quarter earnings and revenue on Wednesday that topped Wall Street expectations, while also raising its full-year guidance. The health insurer reported profit of $746 million, or $4.16 a share, up from $707 million, or $3.53 a share, in the year-earlier quarter. Adjusted EPS was $4.48, higher than the FactSet consensus of $4.30. Revenue rose to $16.107 billion from $14.279 billion the year earlier, driven by better-than-expected utilization of the individual Medicare Advantage business, Humana said. The FactSet consensus for revenue was $15.777 billion. The company said it was expecting full-year EPS of between $16.63 and $16.88 and adjusted EPS between $17.25 and $17.50. It also expects individual Medicare Advantage membership to grow 14% to 440,000 members. Shares of Humana have fallen 10.1% in the year to date, while the S&P 500 has gained 17.5%.
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