Humana Inc. (NYSE: HUM), a leading health and well-being company, on Tuesday reported a wider net loss for the fourth quarter of 2024 despite an increase in revenues.
- Revenues increased about 10% to $29.2 billion in the December quarter from $26.5 billion a year earlier
- The company reported a loss of $2.16 per share for the fourth quarter, on an adjusted basis, compared to a loss of $0.11 per share a year earlier
- Including special items, Q4 net loss widened to $693 million or $5.76 per share from $541 million or $4.42 per share in Q4 2023
- The Insurance segment adjusted benefit ratio was 91.9% in Q4, including a 20-basis point increase related to incremental Star Ratings investments
- For fiscal 2025, the management expects earnings, on a reported basis, to be $15.88 per share
- Adjusted earnings are expected to be $16.25 per share in fiscal 2025
- The company expects individual Medicare Advantage annual memberships to decline by about 550,000 or approximately 10% in FY25, compared to 2024