NYSE$HUM

Humana Inc · Q2 2025 earnings

Q2 2025 earnings · · Before market open · Investor relations

Briefing

Humana reported Q2 2025 total revenues of $32.4B with net income of $543M.

Total revenues were $32.39 billion as Medicare Advantage membership and premium yields evolved. Net income was $543 million. Medical cost trends, Star ratings, and prior-period development remain central to the managed-care outlook.

  • Q2 total revenues $32.4B.
  • Net income $543M.
  • Medicare Advantage membership and premium trends.
  • Medical cost ratio and regulatory changes are key risks.

Headline financials

Total Revenue

$32.4B

Previous: $29.5B+9.6%
EPS (adj)

$4.38

Previous: $6.96-37.1%
Capital Expenditures

-$209M

Previous: -$291M+28.2%
Free Cash Flow

$336M

Previous: $388M-13.4%
Net Income

$545M

Previous: $679M-19.7%
Operating Income

$1.1B

Previous: $1.14B-3.8%
Gross Profit

$4.82B

Previous: $4.5B+7.2%
Cash & Equivalents

$4.04B

Previous: $5.5B-26.6%
Total Assets

$50.4B

Previous: $50.1B+0.5%

Revenue & EPS history

Humana · Revenue · Quarterly

$32.4B

Q2 2025+9.6%vs Q2 2024
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Revenue by segment

Humana · $25.5B total across 1 segment · Q3 2023

  • Insurance
    $25.5B

Forward guidance

Healthcare outlook emphasizes reimbursement, pipeline milestones, and path to profitability.

Tailwinds

  • Product launches and partnership economics.
  • Cost discipline and cash runway.

Headwinds

  • Clinical, regulatory, and pricing risk.
  • Operating losses until scale is reached.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q2 2025

Historical avgQ2 2025

+0.9%

Avg return

Earnings day

+0.5%

Avg return

5 days after

+2.8%

Avg return

30 days after

62%

45 / 73 earnings

Positive

+12.4%

Q2 2025

Best reaction

-12.6%

Q2 2012

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+5.5%+3.6%+33.3%
Q4 2025-3.3%+1.5%-8.8%
Q3 2025-6.0%-15.4%-8.5%
Q2 2025+12.4%+6.3%+30.5%
Q1 2025+1.1%-1.0%-10.1%
Q4 2024-3.5%-4.9%-5.6%
Q3 2024+0.0%-0.9%+15.0%
Q2 2024-11.3%-11.9%-12.4%
Q1 2024-5.1%-7.6%+6.5%
Q4 2023-10.2%-6.4%-9.8%
Q3 2023-8.1%-6.9%-5.4%
Q2 2023+6.3%+8.0%+0.5%
Q1 2023+4.7%+6.7%-1.0%
Q4 2022-4.3%-5.0%-2.2%
Q3 2022+1.5%+0.1%-1.4%
Q2 2022-1.7%-3.6%-1.1%
Q1 2022+6.6%+0.7%+7.1%
Q4 2021+9.1%+10.2%+13.0%
Q3 2021-0.8%-0.6%-7.7%
Q2 2021-7.9%-8.1%-13.2%
Q1 2021-0.3%+0.4%-2.5%
Q4 2020+2.1%+0.4%+5.9%
Q3 2020+10.6%+5.9%-1.2%
Q2 2020+4.2%+7.3%+5.6%
Q1 2020+5.2%+4.1%+13.2%
Q4 2019+4.8%+3.0%+7.1%
Q3 2019+6.9%+7.7%+18.1%
Q2 2019+4.8%+0.8%-0.5%
Q1 2019-3.1%-2.3%-4.1%
Q4 2018+0.2%-3.2%-11.6%
Q3 2018+2.3%+1.8%-7.8%
Q2 2018+2.4%+2.8%+6.1%
Q1 2018-2.9%-3.9%-1.9%
Q4 2017-2.5%-0.8%+1.3%
Q3 2017-3.5%-6.0%+0.1%
Q2 2017+7.8%+8.2%+12.1%
Q1 2017+2.0%+3.9%+8.4%
Q4 2016+6.0%+5.9%+11.6%
Q3 2016+5.8%+12.5%+29.2%
Q2 2016+2.5%+4.8%+4.6%
Q1 2016-1.6%
Q4 2015-0.9%
Q3 2015-0.8%
Q2 2015-0.4%
Q1 2015-8.6%
Q4 2014+1.2%
Q3 2014-5.3%
Q2 2014-7.7%
Q1 2014+6.3%
Q4 2013-0.8%
Q3 2013+1.6%
Q2 2013+2.3%
Q1 2013+1.6%
Q4 2012+7.0%
Q3 2012+1.3%
Q2 2012-12.6%
Q1 2012-4.0%
Q4 2011+1.0%
Q3 2011+4.2%
Q2 2011-2.0%
Q1 2011+1.8%
Q4 2010+3.5%
Q3 2010+4.0%
Q2 2010+4.0%
Q1 2009+4.9%
Q1 2010-0.9%
Q4 2009+3.6%
Q4 2007+3.6%
Q3 2008+5.0%
Q3 2009+5.0%
Q4 2008+2.0%
Q2 2009+2.0%
Q2 2008+2.0%

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