Humana Plunges on Lowered Guidance
Humana (NYSE: HUM) released its second-quarter earnings results after the closing bell on Monday. The company reported net income of $356 million or $2.16 per share, compared to $460 million or $2.71 per share, in the year ago period. This missed Wall Street analysts' consensus EPS estimates of $2.28.
Revenues were $9.70 billion, a 4 percent gain versus the $9.28 billion the company reported in last year's fiscal second-quarter. This also missed analysts' consensus estimates of $9.80 billion.
Looking ahead to Q3, Humana sees EPS between $2.00 and $2.10, which is well below current consensus of $2.55.
For fiscal 2012, Humana now sees EPS between $6.90 to $7.10. This is below its previous estimate of $7.38 to $7.58. Currently, analysts have consensus EPS estimates of $7.93 for the full-year.
Humana also lowered its full-year revenue guidance. The company now sees revenues in a range between $39 billion and $39.5 billion. This compares to current revenue estimates of $39.39 billion for 2012.
In Monday's after hours trading session, HUM had plunged nearly 12% to $62.28.
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