Humana Profit Climbs 20% (HUM)
August 02, 2010 6:30 AM
Humana Inc. (NYSE: HUM) on Monday morning released financial results that beat Wall Street expectations.
Humana Inc. (HUM) reported that its 2nd quarter net income climbed 20.7% to $340 million, or $2 per share, up from $281.8 million, or $1.67 per share, a year earlier.
Total revenues rose 9.5% to $8.65 billion, up from $7.9 billion a year earlier.
A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of $1.67 per share, on revenue of $8.61 billion.
The company raised its full year EPS guidance to a range of $5.65 to $5.75, up from its previous range of $5.55 to $5.65.
President and chief executive officer Michael B. McCallister said, “We are pleased with this quarter's performance as it is the result of strength in both our Commercial and Government segments. It is clear our value proposition for seniors in Medicare continues to be well received across the country.”
Humana Inc. closed the previous trading day at $47.02 per share. Analysts covering the company's stock have a consensus price target of $54.27 per share.
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