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Humana Guides FY24 Adj. EPS Well Below Estimates; Stock Plunges 17% - Update

RTTNews | 100 days ago

Humana Guides FY24 Adj. EPS Well Below Estimates; Stock Plunges 17% - Update

(RTTNews) - While reporting financial results for the fourth quarter on Wednesday, health insurer Humana Inc. (HUM) initiated its adjusted earnings guidance for the full-year 2024, well below estimates. The company said it assumes the higher Medicare Advantage medical costs experienced in the fourth quarter to persist throughout 2024.

For fiscal 2024, the company now projects earnings of approximately $14.87 per share and adjusted earnings of about $16.00 per share.

On average, 21 analysts polled by Thomson Reuters expect the company to report earnings of $29.56 per share for the year. Analysts' estimates typically exclude special items.

The company also affirmed its 2024 individual Medicare Advantage annual membership growth of approximately 100,000 or 1.8 percent.

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