Humana Nudges Full-Year Guidance Higher
November 03 2020 - 6:25AM
Dow Jones News
By Matt Grossman
Humana Inc. Tuesday issued full-year profit guidance slightly
higher than its previous estimates, but said it expects a loss in
the fourth quarter as utilization levels return to nearly normal
following a slump during the early stages of the coronavirus
pandemic.
The Louisville, Ky.-based health insurer said it now expects a
full-year profit of $24.70 a share to $24.95 a share, compared with
previous guidance for $23.74 to $24.24 a share. On an adjusted
basis, Humana now expects a profit of $18.50 to $18.75. Previously,
Humana's guidance forecast an adjusted profit of $18.25 to
$18.75.
Analysts polled by FactSet had been expecting an adjusted profit
of $18.97 for the full year.
The company said it expects a fourth-quarter loss as higher
utilization and costs from Covid-19 treatment and testing
contribute to expenses. Humana said second-half results will
entirely offset outperformance that occurred in the first half of
the year due to low utilization levels.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
November 03, 2020 07:10 ET (12:10 GMT)
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