Humana beats by $0.74, beats on revs; guides FY24 EPS below consensus (257.77)
- Reports Q3 (Sep) earnings of $4.16 per share, excluding non-recurring items, $0.74 better than the FactSet Consensus of $3.42; revenues rose 11.3% year/year to $29.4 bln vs the $28.67 bln FactSet Consensus.
- Benefits expense ratio 89.9% vs 86.6% in yr-ago period; adjusted benefits expense ratio 89.8% versus 86.4% in yr-ago period.
- Co issues downside guidance for FY24, sees EPS of at least $16.00, excluding non-recurring items, vs. $16.17 FactSet Consensus.
- Affirms FY 2024 Insurance segment benefit ratio of approximately 90 percent
- Raises 2024 individual Medicare Advantage annual membership growth by 40,000 to now anticipate annual growth of approximately 265,000, or approximately 5 percent