Q2 25 EPS
$6.27
BEAT +6.87%
Est. $5.87
Q2 25 Revenue
$32.39B
BEAT +1.69%
Est. $31.85B
vs S&P Since Q2 25
-17.6%
TRAILING MARKET
HUM -4.0% vs S&P +13.6%
Market Reaction
Did HUM Beat Earnings? Q2 2025 Results
Humana posted a strong second quarter, with adjusted EPS of $6.27 beating the $5.87 consensus estimate by 6.87% and revenue of $32.39 billion topping expectations by 1.69% on 9.6% year-over-year growth, offering a measure of reassurance to investors … Read more Humana posted a strong second quarter, with adjusted EPS of $6.27 beating the $5.87 consensus estimate by 6.87% and revenue of $32.39 billion topping expectations by 1.69% on 9.6% year-over-year growth, offering a measure of reassurance to investors in a sector battered by rising medical costs and profit warnings from several peers. The key driver behind the beat was a 89.9% Insurance segment benefit ratio that landed in line with management's own target, reflecting favorable Medicare Advantage pricing and Part D seasonality dynamics that helped offset a mix shift toward higher-cost state-based contracts. Individual Medicare Advantage membership declines also proved less severe than feared, with year-to-date attrition of approximately 432,500, better than the previously guided 550,000. Buoyed by the results, Humana raised its full-year adjusted EPS guidance to approximately $17.00 from $16.25, lifted consolidated revenue guidance to at least $128 billion, and increased its CenterWell net patient growth target to 50,000 to 70,000, signaling growing confidence in the diversified care delivery business.
Key Takeaways
- • Higher per member Medicare premiums driven by increased direct subsidy due to the Inflation Reduction Act (IRA)
- • Membership growth in state-based contracts and stand-alone PDP businesses
- • CenterWell outperformance driven by higher-than-anticipated specialty pharmacy script volumes and favorable drug mix
- • Better-than-expected individual Medicare Advantage membership retention with 43% recapture of members impacted by plan exits
- • Individual Medicare Advantage pricing inclusive of plan exits and benefit design changes more than offsetting claims trend
- • Administrative cost efficiencies from value creation initiatives
- • CenterWell Primary Care patient growth of 10% year-to-date with improved Net Promoter Score up 250 basis points year over year
- • Acute admissions and observations per thousand decreased 600 basis points year over year in staffed centers
HUM YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
HUM Revenue by Segment
With YoY comparisons, source: SEC Filings
“We feel good about our solid performance in the first half of the year. It reinforces our strategy to continue investing in improved outcomes, operational excellence and a better experience for our customers and investors.”
— Jim Rechtin, Q2 2025 Earnings Press Release
HUM Earnings Trends
HUM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
HUM EPS Trend
Earnings per share: estimate vs actual
HUM Revenue Trend
Quarterly revenue: estimate vs actual
HUM Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $10.31 | — | $39.65B | +0.67% |
| Q4 25 BEAT FY | $-3.99 | $-3.96 | +0.75% | $32.52B | +1.37% |
| FY Full Year | $17.09 | $17.14 | +0.27% | $129.66B | +0.34% |
| Q3 25 BEAT | $2.83 | $3.24 | +14.64% | $32.65B | +1.99% |
| Q2 25 BEAT | $5.87 | $6.27 | +6.87% | $32.39B | +1.69% |
| Q1 25 BEAT | $10.07 | $11.58 | +14.97% | $32.11B | -0.34% |