Humana Inc.
HUM,
reported Wednesday fourth-quarter profit that beat expectations but revenue that came up a bit shy, while predicting “robust” Medicare Advantage membership growth in 2023. The health insurer said recorded a net loss of 12 cents a share, after a loss of 11 cents a share, in the year-ago period. Excluding nonrecurring items, including charges related to its value creation plan, adjusted earnings per share rose to $1.62 from $1.24 and beat the FactSet consensus of $1.46. Revenue grew 6.6% to $22.44 billion, below the FactSet consensus of $22.48 billion. For 2023, the company expects adjusted EPS of “at least” $28.00, compared with the FactSet consensus of $27.99. Humana expects individual Medicare Advantage membership growth to be at least 625,000 for the year, up 13.7% from a year ago. The stock, which was little changed in premarket trading, has lost 7.7% over the past three months while the S&P 500
SPX,
has gained 5.7%.
Credit: marketwatch.com