Health insurance company Humana (NYSE: HUM) will be announcing earnings results this Wednesday before the bell. Here’s what you need to know.
Humana met analysts’ revenue expectations last quarter, reporting revenues of $39.65 billion, up 23.5% year on year. It was a strong quarter for the company, with a solid beat of analysts’ full-year EPS guidance estimates and a narrow beat of analysts’ EPS estimates. It added 2.71 million customers to reach a total of 17.71 million.
Is Humana a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Humana’s revenue to grow 25.5% year on year, improving from the 10.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Humana has a history of exceeding Wall Street’s expectations.
Looking at Humana’s peers in the health insurance providers segment, some have already reported their Q2 results, giving us a hint as to what we can expect. UnitedHealth posted flat year-on-year revenue, beating analysts’ expectations by 1.2%, and Elevance Health reported flat revenue, topping estimates by 2.5%. UnitedHealth traded up 1.8% following the results while Elevance Health was down 12.6%.
Read our full analysis of UnitedHealth’s results here and Elevance Health’s results here.
Investors in the health insurance providers segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. Humana is down 1.5% during the same time and is heading into earnings with an average analyst price target of $347.96 (compared to the current share price of $383.13).
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