Humana Q4 2023 Earnings Report
Key Takeaways
Humana reported a net loss per share of $4.42 on a GAAP basis and an adjusted loss per share of $0.11 for the fourth quarter of 2023. The results were impacted by rising Medicare Advantage medical costs. The company provided initial full-year 2024 EPS guidance of approximately $14.87 on a GAAP basis and approximately $16.00 on an adjusted basis.
Reports 4Q23 loss per share of $4.42 on a GAAP basis, Adjusted loss per share of $0.11; reports FY 2023 earnings per share (EPS) of $20.00 on a GAAP basis, $26.09 on an Adjusted basis
4Q23 results reflect additional increase in Medicare Advantage medical cost trends, driven by higher than anticipated inpatient utilization, primarily for the months of November and December, and a further increase in non-inpatient trends
Announces initial FY 2024 EPS guidance of 'approximately $14.87' on a GAAP basis, 'approximately $16.00' on an Adjusted basis; assumes the higher Medicare Advantage medical costs experienced in 4Q23 persist throughout 2024
Affirms 2024 individual Medicare Advantage annual membership growth of approximately 100,000 or 1.8 percent
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Forward Guidance
Humana provided its initial GAAP and Adjusted EPS guidance for the year ending December 31, 2024 (FY 2024).