Health insurance company Humana (NYSE:HUM) will be reporting results this Friday morning. Here’s what you need to know.
Humana beat analysts’ revenue expectations last quarter, reporting revenues of $40.87 billion, up 26.2% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates. It added 200,800 customers to reach a total of 17.91 million.
Is Humana a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Humana’s revenue to grow 25.2% year on year, improving from the 11.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Humana has a history of exceeding Wall Street’s expectations.
Looking at Humana’s peers in the health insurance providers segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Elevance Health posted flat year-on-year revenue, beating analysts’ expectations by 3.1%, and CVS Health reported revenues up 5.4%, topping estimates by 4.1%. Elevance Health traded up 1.2% following the results.
Read our full analysis of Elevance Health’s results here and CVS Health’s results here.
There has been positive sentiment among investors in the health insurance providers segment, with share prices up 9.1% on average over the last month. Humana is up 4.1% during the same time and is heading into earnings with an average analyst price target of $465.13 (compared to the current share price of $421).
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