Humana beats profit expectations, raised outlook
Humana Inc. reported Wednesday third-quarter earnings that rose above expectations and raised its full-year outlook, helped by strength in its individual Medicare Advantage offerings. The stock was still inactive in premarket trade. Net income rose to $901 million, or $4.65 a share, from $799 million, or $3.44 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share increased to $4.58 from $3.39, and beat the FactSet consensus of $4.27. The health care company raised its 2018 guidance for adjusted EPS to "approximately" $14.40 from approximately $14.15. The company did not provide details on revenue in its press release or immediately on its website, and a SEC filing was not yet available. The stock has gained 3.1% over the past three months, while the SPDR Health Care Select Sector ETF has edged up 0.6% and the S&P 500 has lost 3.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.