Humana Inc.’s earnings for the third quarter beat Wall Street projections, but the firm lowered its end-of-year guidance, citing COVID-19 costs. The Medicare Advantage-focused payer’s executives also said it would sell off much of its hospice operations, touted the firm’s acquisitions in home care and said they are actively looking for more home health and primary care providers to purchase.
Humana reported adjusted earnings per share (EPS) of $4.83 for the quarter, which beat the Wall Street consensus projection of $4.66. However, the firm lowered its end-of-year guidance by about $1.00 to $23.67, citing the persistence of the COVID-19 pandemic. The firm brought in more than $20.8 billion in adjusted revenue during the third quarter, up from over $18.8 billion in the third quarter of 2020. Adjusted pretax income amounted to $802 million, up from $550 million in the third quarter last year.
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