Humana Q3 Results Beat Estimates

Humana Inc HUM delivered better than expected results for the third quarter. However, the company’s adjusted EPS forecast came in below the estimates.

• Reports adjusted EPS of $3.18, beats by $0.03.
• Delivers revenue of $13.69 billion, tops by $0.28 billion.
• Expects full adjusted EPS to be about $9.50 versus Street expectations of $9.51.
• Share buyback program is suspended since July 2, 2015, pending the transaction with Aetna.

Humana’s SVP and CFO, Brian Kane, said, “We are pleased that our third-quarter results enable us to reaffirm our recently-raised EPS guidance for 2016, which includes two meaningful guidance increases during the course of the year. These increases are largely attributable to our better-than-expected performance in Medicare Advantage and Healthcare Services and we believe our performance positions us well for 2017.”

The stock closed at $165.31 on Thursday.