Humana Third-Quarter Revenue Hits $41.16 Billion as It Raises Full-Year Outlook: Adjusted EPS Guidance Lifted to at Least $9.50
Health insurer Humana Inc. (NYSE: HUM), headquartered in Louisville, Kentucky, on November 6 reported results for the third quarter ended September 30, 2026: consolidated revenues were $41,155 million, up about 19 percent from $34,550 million a year earlier. Diluted earnings per share on a GAAP basis were $1.33, versus $1.28 a year earlier, while on an adjusted basis the company posted a loss of $0.70 per share, versus adjusted earnings of $1.03 per share a year earlier.
Third-quarter net income attributable to Humana was $123 million on a GAAP basis, versus $121 million a year earlier, and an adjusted net loss of $64 million. The quarter's GAAP results included a $197 million non-cash, non-recurring gain, net of tax, on the sale of the company's interest in a joint venture, which was not allocated to the segments. The Insurance segment's GAAP benefit ratio was 93.7 percent, favorable to management's guidance of slightly above 94 percent, with an adjusted benefit ratio of 92.9 percent. The Insurance segment posted a GAAP operating loss of $303 million for the quarter, while the CenterWell segment posted GAAP operating income of $1,003 million.
For the first nine months of 2026, consolidated revenues were $121,670 million, with GAAP EPS of $16.84 and adjusted EPS of $17.17, including a total $1,976 million non-cash gain, net of tax, on the sale of the joint-venture interest. CenterWell Senior Primary Care grew its patient count by 146,800 year to date, or 30 percent, and Medicaid membership grew by 103,600, or 7 percent, largely driven by the start of integrated Duals programs in Michigan, Illinois and South Carolina. The company also recently announced a joint venture with funds managed by BlackRock's HPS Investment Partners, replacing the previous joint ventures with Welsh, Carson, Anderson & Stowe.
Humana raised its full-year 2026 guidance: adjusted EPS is now expected to be at least $9.50, up from at least $9.00, and GAAP EPS guidance was revised to at least $15.09, up from at least $6.52. President and Chief Executive Officer Jim Rechtin said the third-quarter results reflected strong execution against the company's 2026 commitments, with Insurance segment performance better than expected, driven by Medicare Advantage member utilization lower than anticipated and improved operational efficiencies, and that the company would keep growing its Medicaid and CenterWell businesses.
(Source: Humana)
Source: Humana Inc
Published by GSM · USA (original Chinese edition)
Photo: 图：Humana 位于肯塔基州路易斯维尔的总部大楼（楼顶带 Humana 标志）。Angry Aspie 摄，CC BY 3.0，经 Wikimedia Commons。 / Photo: Humana's headquarters building in Louisville, Kentucky, with the Humana sign on top. Photo by Angry Aspie, CC BY 3.0, via Wikimedia Commons.
