Why Is Humana Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
Humana Inc reported Q2 adjusted EPS of $8.94, beating the consensus of $8.88. The insurer's adjusted revenue was $25.73 billion, up from $22.54 billion a year ago, but below the consensus of $25.82 billion. Humana's individual Medicare Advantage enrollment rose 15.7% to 5.26 million. The company's Q2 profits rose 37.8% to $959 million. Humana reaffirmed its adjusted EPS guidance of at least $28.25 and raised its 2023 individual Medicare Advantage membership growth by 50,000 to about 825,000. HUM shares are up 5.84% at $484.88 during the premarket session.
August 04, 2023 | 11:16 am
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Humana's Q2 earnings beat consensus and its profits rose significantly. Despite revenue being below expectations, the company reaffirmed its EPS guidance and raised its Medicare Advantage membership growth forecast. This news has led to a rise in Humana's stock price.
Humana's Q2 earnings beat the consensus, and its profits rose significantly, which are positive indicators for the company's financial health. Despite the revenue being slightly below expectations, the company reaffirmed its EPS guidance and raised its Medicare Advantage membership growth forecast, indicating confidence in its future performance. These factors have likely contributed to the rise in Humana's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100