UNH - Humana Blames Medicare Advantage As Stock Falls After Larger Than Expected Quarterly Loss Grim Outlook | Benzinga
Humana Inc (NYSE:HUM) shares nosedived after the company released dismal fourth quarter 2023 earnings.
The company reported a Q4 adjusted EPS loss of $(0.11), a turnaround from EPS income of $1.97 a year ago, missing the consensus of $(0.05).
The fourth quarter results reflect an additional increase in Medicare Advantage medical cost trends, driven by higher than anticipated inpatient utilization, primarily for November and December, and a further increase in non-inpatient trends.
The insurer reported adjusted revenue of $25.73 billion, compared to $21.30 billion a year ago and the consensus of $25.55 billion.
Sales increased on ...