On Wednesday, Humana Inc., a well-known health insurance company, released its financial results for the last quarter and provided its adjusted earnings estimates for the entire year of 2024, which fall below initial expectations. Humana anticipates that the increased medical costs linked to the Medicare Advantage program, experienced in the fourth quarter, will likely continue through the year 2024.
Humana now predicts earnings of approximately $14.87 per share and adjusted earnings close to $16.00 per share over the fiscal year 2024.
According to data collated by Thomson Reuters, the expected earnings, as projected by an average of 21 financial analysts, were originally set at $29.56 per share for the year, though these usually do not account for extraordinary items.
Furthermore, Humana confirmed its prediction for a 1.8 percent growth equivalent to 100,000 in its individual Medicare Advantage yearly membership for 2024.
