Humana Inc · Q3 2023 earnings

Briefing

Humana reported strong earnings growth driven by Medicaid and Primary Care businesses, with a focus on operating efficiencies, offset by higher Medicare Advantage utilization.

Humana reported Q3 2023 GAAP EPS of $6.71 and adjusted EPS of $7.78. The company is revising its FY 2023 GAAP EPS guidance to at least $26.31, while affirming its adjusted EPS guidance of at least $28.25. Individual Medicare Advantage membership growth is expected to be approximately 860,000, a 19% increase year-over-year.

• Reported 3Q23 GAAP EPS of $6.71 and Adjusted EPS of $7.78.
• Revised FY 2023 GAAP EPS guidance to at least $26.31 and affirmed FY 2023 Adjusted EPS of at least $28.25.
• Increased 2023 individual Medicare Advantage membership growth to approximately 860,000, a 19 percent increase over FY 2022.
• Achieved 94 percent of Medicare Advantage members enrolled in 4-star and above contracts for 2024.

Headline financials

Revenue & EPS history

Humana revised its GAAP EPS guidance for the year ending December 31, 2023 (FY 2023) to 'at least $26.31' from 'at least $26.91', while affirming its Adjusted EPS guidance of 'at least $28.25'.