Health insurer Humana, Inc. (HUM), while reporting weak third-quarter profit, but above market estimates, on Wednesday trimmed its fiscal 2025 forecast for earnings on a reported basis. Further, the firm maintained adjusted earnings and revenues outlook, both below the Street.
In pre-market activity, Humana shares were losing around 4.9 percent to trade at $268.02.
For the year, the company now expects earnings of approximately approximately $12.26 per share, compared to previous estimate of approximately $13.77 per share.
Adjusted earnings are still expected to be around $17 per share.
The Wall Street analysts on average expect the company to report earnings of $17.04 per share. Analysts' estimates typically exclude special items.
In fiscal 2024, reported earnings were $9.98 per share and adjusted earings were $16.21 per share.
The company continues to expect fiscal 2025 consolidated revenues of at least $128 billion. The Street is looking for revenues of $128.33 billion for the year.
The company still expects Insurance segment benefit ratio guidance range of 90.1 percent to 90.5 percent for the year.
Further, annual individual Medicare Advantage membership is now anticipated a decline of approximately 425,000 members, compared to the previous guidance of a decline of up to 500,000 members, due to stronger retention and better-than-expected sales.
In the third quarter, net income attributable to Humana fell to $195 million from last year's $480 million. Earnings per share declined to $1.62 from $3.98 a year ago.
Adjusted earnings were $3.24 per share for the period, compared to $4.16 per share last year. Analysts had expected the company to earn $2.83 per share.
The company's revenue for the period rose 11.1 percent to $32.649 billion from $29.397 billion last year. The Street expected revenues of $32.01 billion.
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