Humana Q1 Adjusted EPS $7.23, Revenue $29.61B; Raises Medicare Advantage Forecast

Humana Inc. reported a significant earnings beat for Q1, with adjusted earnings per share (EPS) of $7.23, surpassing the estimated $6.12. The company also reported adjusted sales of $29.332 billion, exceeding expectations of $28.473 billion, and total revenue of $29.61 billion against an expectation of $28.28 billion. Additionally, Humana confirmed its full-year 2024 adjusted EPS guidance of approximately $16.00, slightly below the estimated $16.36, and raised its 2024 individual Medicare Advantage annual membership growth forecast by 50,000. This performance comes amid a backdrop where competitors UnitedHealth and Elevance Health reported no further spikes in Q1 medical costs related to Medicare Advantage (MA), despite Humana's significant concentration in MA.