Humana (HUM) reported second-quarter results Wednesday that were much better than feared, sending its stock price soaring and giving us the confidence to stick with the jilted health insurer. Revenue for the three months ended June 30 rose 13% year-over-year, to $26.75 billion, exceeding analysts’ estimates of $26.23 billion, according to Refinitiv. Adjusted earnings-per-share (EPS) of $8.94 slightly outpaced analysts’ forecasts of $8.82 a share, Refinitiv data showed. Humana’s companywide benefits expense ratio — also known as the medical loss ratio, or MLR — came in at 86.1%, under Wall Street’s 86.5% estimate, according to FactSet. Shares for Humana soared more than 5% Wednesday afternoon, to $482.70 apiece.
The Humana headquarters office stands in Louisville, Kentucky.
Ty Wright | Bloomberg | Getty Images
Humana (HUM) reported second-quarter results Wednesday that were much better than feared, sending its stock price soaring and giving us the confidence to stick with the jilted health insurer.
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