Humana Q1 Profit Rises; Lifts FY23 Earnings View

(RTTNews) - Health insurer Humana Inc. (HUM) reported Wednesday that its first-quarter pretax earnings grew to $1.61 billion from last year's $1.22 billion. Earnings per share grew to $9.87 from $7.29 a year ago.

Adjusted pretax results were $1.55 billion, compared to $1.31 billion a year ago. Adjusted earnings per share were $9.38, compared to $7.81 last year.

On average, 19 analysts polled by Thomson Reuters expected earnings of $9.27 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter increased to $26.74 billion from last year's $23.97 billion. Adjusted revenues were $25.65 billion, up from $22.86 billion in the prior year. Analysts expected revenues of $26.44 billion.

Looking ahead, Humana raised its fiscal 2023 earnings forecast.

The company now expects full-year earnings to be at least $27.88, compared to last year's $22.08.

Adjusted earnings per share were raised by $0.25 to at least $28.25, while last year's adjusted earnings were $25.88 per share.

The company previously projected full-year earnings of at least $27.57 and adjusted earnings of at least $28.00 per share.

Analysts expect earnings of $28.11 per share for the year.

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