Humana Boosts Medicare Advantage Membership 2024 Forecast As Q1 Earnings Performance Exceeds Expectations
Portfolio Pulse from Vandana Singh
Humana Inc (NYSE:HUM) reported Q1 adjusted EPS of $7.23, surpassing the consensus of $6.12, with revenues of $29.33 billion, exceeding expectations and last year's $25.65 billion. The increase was attributed to higher per-member Medicare premiums and growth in Medicare Advantage membership, which rose to 6.1 million from 5.67 million in Q1 2023. Despite a previous Q4 loss, Humana reaffirmed its 2024 earnings guidance at $16 per share and raised its Medicare Advantage membership growth forecast. HUM shares fell 3.68% to $315.86 after the announcement.
April 24, 2024 | 2:10 pm
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Humana Inc reported higher than expected Q1 earnings and revenue, reaffirmed 2024 earnings guidance, and increased Medicare Advantage membership growth forecast.
Humana's Q1 performance, particularly the beat on earnings and revenue expectations, along with the positive adjustment in Medicare Advantage membership growth, signals strong operational health and market confidence. Despite the stock's initial drop, the solid fundamentals and reaffirmed guidance are likely to bolster investor confidence in the short term, potentially leading to a positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100