Humana's Profit Increases as Year-Earlier Results Hit by Business Sale Loss
July 31 2019 - 6:23AM
Dow Jones News
By Allison Prang
Net income at Humana Inc. (HUM) rose in the second quarter as
premium revenue increased and the company's year-earlier results
included a $790 million business sale loss.
Profit was $940 million, up from $193 million for the comparable
quarter a year earlier. Earnings were $6.94 a share, up from $1.39
a share.
Adjusted earnings were $6.05 a share, up from $3.96 a share.
Analysts were expecting $5.31 a share.
Revenue rose 14%, to $16.25 billion. Analysts were expecting
$15.93 billion.
For the comparable quarter a year earlier, the company recorded
a $790 million loss on sale from its selling of subsidiary KMG
America Corp. That hit earnings by $2.59 a share for that
period.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
July 31, 2019 07:08 ET (11:08 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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