Earnings Summary: Highlights of Humana’s Q2 2024 report

Humana Inc. (NYSE: HUM), a leading health and well-being company, reported a decrease in adjusted earnings for the second quarter of 2024 when its revenues grew in double digits.

• Second-quarter earnings, on an adjusted basis, dropped to $6.96 per share from $8.94 per share in the prior-year quarter
• Including special items, Q2 net income came in at $5.62 per share, vs. $7.66 per share in the same period last year
• June quarter revenues increased to $29.54 billion from $26.75 billion in the year-ago quarter
• The management revised its FY2024 EPS guidance, on a reported basis, to about $12.81 from the previous forecast of $13.93
• The company affirmed its full-year adjusted earnings guidance at $16.00 per share, and the Insurance segment benefit ratio at around 90%
• As of June 30, 2024, days in claims payable was 41.6 days, which represents a decrease of 0.9 day from March 31, 2024