NYSE$HUM

Humana Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported a GAAP loss per share of $0.12 and Adjusted EPS of $1.62. The company provided FY 2023 financial guidance.

Humana reported its Q4 2022 financial results, with a GAAP loss per share of $0.12 and an adjusted EPS of $1.62. The company announced FY 2023 EPS guidance of at least $27.57 on a GAAP basis and at least $28.00 on an Adjusted basis. Humana completed realignment into two segments, Insurance and CenterWell.

  • Reported 4Q22 loss per share of $0.12 on a GAAP basis, Adjusted EPS of $1.62; reports full year (FY) 2022 EPS of $22.08 on a GAAP basis, $25.24 on an Adjusted basis
  • Announced FY 2023 EPS guidance of at least $27.57 on a GAAP basis; at least $28.00 on an Adjusted basis
  • Affirmed strong 2023 individual Medicare Advantage membership growth of at least 625,000, or 13.7 percent growth over FY 2022 ending membership; anticipates growth to be meaningfully higher than the industry growth
  • Completed realignment into two segments, Insurance and CenterWell, to drive greater collaboration and synergistic growth across the enterprise

Headline financials

Total Revenue

$22.4B

Previous: $21.2B+5.9%
EPS (adj)

$1.62

Previous: $1.24+30.6%
Capital Expenditures

$258M

Previous: $371M-30.5%
Free Cash Flow

-$5.39B

Previous: -$467M-1053.1%
Net Income

-$71M

Previous: -$60M-18.3%
Operating Income

-$71M

Previous: -$60M-18.3%
Gross Profit

$9.77B

Previous: $10.9B-10.7%
Cash & Equivalents

$5.06B

Previous: $3.39B+49.1%
Total Assets

$43.1B

Previous: $44.4B-2.9%
Stock-Based Comp

$43M

Previous: $48M-10.4%

Revenue & EPS history

Humana · Revenue · Quarterly

$22.4B

Q4 2022+5.9%vs Q4 2021
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Revenue by segment

Humana · $21.6B total across 1 segment · Q4 2022

  • Insurance
    $21.6B

Forward guidance

The company provided its GAAP and Adjusted EPS guidance for the year ending December 31, 2023 (FY 2023)

Tailwinds

  • FY 2023 GAAP EPS guidance of at least $27.57
  • FY 2023 Adjusted EPS guidance of at least $28.00
  • Amortization of identifiable intangibles: $0.55
  • Tax impact of non-GAAP adjustments: ($0.12)

Historical earnings impact

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

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

+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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