LOUISVILLE, Ky. (AP) — Humana Inc. posted a 35 percent surge in second-quarter profit Monday, easily beating Wall Street views, as more people enrolled in the health insurer's Medicare plans while existing members made less use of its health care services.
The Louisville-based company, which has expanded into health care delivery, also raised its earnings forecast for the full year to a range of $7.50 to $7.60 per share, up from $6.70 to $6.90 per share. Analysts polled by FactSet predict, on average, an annual profit of $7.02 per share.
Humana credited the rosier outlook to a favorable trend in which a smaller percentage of premium dollars from its members are going to pay for medical claims, reflecting an industrywide slowdown in health care utilization.
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