By Sam Boughedda
Humana Inc (NYSE:), a health insurance firm, increased its full-year adjusted earnings forecast by $0.25 per share, driven by continued lower-than-expected medical costs.
The news resulted in shares of Humana rising. They are currently trading 7.9% higher at the time of writing.
Humana’s FY 2022 EPS guidance was increased to $23.08 from $20.30, while adjusted EPS was increased to $25 from $24.75. The company said it was also driven by the “lack of a Covid-19 headwind materializing to date.”
“Importantly, the company no longer deems it necessary to hold a discrete COVID-19 headwind in its full year guide,” Humana stated.
The company already raised its earnings forecast in July by $0.25
Humana also revealed it expects to deliver $37 adjusted EPS in 2025 and continued earnings growth in 2026 and beyond.