Humana Inc. reported second-quarter net income of $19 million, or $1.39 a share, compared with $1.04 billion, or $4.46 a share, in the same period a year ago. Excluding non-recurring items, such as a $790 million loss on the sale of its KMG America Corp. subsidiary, adjusted earnings per share rose to $3.96 from $3.49, beating the FactSet consensus of $3.77. Total revenue increased 5.4% to $14.26 billion, above the FactSet consensus of $14.11 billion, as premiums grew 3.9% to $13.71 billion to beat expectations of $13.48 billion. The health care company raised its 2018 adjusted EPS guidance to $14.15 from a previous range of $13.70 to $14.10. The revenue outlook was nudged up to $55.9 billion to $56.5 billion from $55.8 billion to $56.4 billion. The stock, which was still inactive in premarket trade, has run up 27% year to date, while the S&P 500 has gained 5.3%.
Read on Market Watch