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Humana Earnings Dip, Guidance Revised Upwards
7 Nov
Summary
- Q3 2026 pretax results show a significant increase from $134 million to $216 million.
- Adjusted EPS guidance for FY 2026 is raised to at least $9.50.
- A decline in Medicare Advantage Star Ratings impacts 2026 quality bonus payments.
Humana's third quarter of 2026 saw pretax results reach $216 million, a substantial rise from $134 million in the same period of 2025. For the nine months ended September 30, 2026, pretax results were $2,763 million compared to $2,566 million in 2025.
The company has also adjusted its financial outlook, revising its fiscal year 2026 Adjusted EPS guidance upwards to at least $9.50, an increase from the previous projection. This adjustment comes even as Humana anticipates a year-over-year decline in adjusted EPS due to the impact of a Star Ratings headwind for Bonus Year 2026.
Despite financial progress, Humana faces challenges related to its Medicare Advantage plans. A significant decline in the number of plans rated 4-star or higher in 2025 is expected to negatively affect 2026 quality bonus payments from CMS. This situation could adversely impact revenues and operating results.
