Humana Lifts 2024 Profit Outlook As Q3 Earnings Beat Street View On Medicare Strength

Wednesday, Humana Inc (NYSE:HUM) posted third-quarter adjusted EPS of $4.16, down from $7.78 a year ago, beating the consensus of $3.40.

The company reported revenues of $29.30 billion, up 14.7% year-over-year from $25.53 billion, beating the consensus of $28.67 billion, primarily driven by higher per-member Medicare premiums and Medicare Advantage and state-based contracts membership growth.

Humana ended the third quarter with 16.358 million in total medical membership, compared to 16.963 million a year ago.

Medicare Advantage membership reached 5.659 million, up from 5.374 million a year ago.

Also Read: Cigna And Humana Revive Early Merger Talks After Year-Long Pause As Medicare Cost Pressure Looms

The benefit ratio increased to 89.9% from 86.6% a year ago. ...