Humana Raises Annual Guidance -- Earnings Review

   By Allison Prang 
 

Humana Inc. (HUM) released its earnings results for the first quarter before the marketed opened Wednesday. Here's what you need to know.

PROFIT: Humana said it made $3.53 a share, down from the $7.49 a share it made during the same quarter a year ago. On an adjusted basis, the company made $3.36 a share, up from $2.75 a share. Analysts polled by Thomson Reuters were expecting adjusted earnings of $3.19 a share.

NEW OUTLOOK: The company expects to earn between $13.54 and $13.94 a share for full-year 2018. It had previously expected annual earnings of between $13.16 to $13.66 a share. On an adjusted basis, Humana expects to make between $13.70 and $14.10 a share for the year. It had previously expected to earn between $13.50 and $14 on an adjusted basis.

COMMENTARY: Chief Financial Officer Brian Kane said in prepared remarks that the company "experienced strong Medicare Advantage enrollment growth and solid performance across all segments in the first quarter, with early positive indicators of medical utilization allowing us to raise guidance for the year." The company said that its retail and group and specialty segments were leaders in its performance.

Shares were unchanged premarket. In the past 12 months, shares have risen 31%.

Write to Allison Prang at [e-mail]

(END) Dow Jones Newswires

May 02, 2018 07:38 ET (11:38 GMT)

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