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Humana Inc. — Third Quarter 2026 Earnings Summary

  • Consolidated revenues rose to $41.155 billion in 3Q26 from $32.649 billion in 3Q25, while 3Q26 GAAP EPS fell to $1.33 from $1.62; Adjusted EPS for the quarter was a loss of $0.70 compared to $3.24 in the prior year, driven by a $358 million non-cash loss on put/call valuation adjustments.
  • The company raised its FY 2026 Adjusted EPS guidance to "at least $9.50" from "at least $9.00" and revised FY 2026 GAAP EPS guidance to "at least $15.09" from "at least $6.52," though Adjusted EPS is expected to decline year-over-year due to Star Ratings headwinds.
  • Strategic updates include a 30% year-over-year increase in CenterWell Senior Primary Care patients and a 7% growth in Medicaid membership, alongside the announcement of a new joint venture with BlackRock to enhance balance sheet efficiency.
  • Management noted ongoing litigation regarding 2025 Star Ratings, which were rejected by the court in October 2025, presenting a risk to 2026 quality bonus payments and operating results if the decline is not successfully challenged.
Company
HUMANA INC
Sector
Healthcare
Industry
Healthcare Plans