Earnings summaries and quarterly performance for HUMANA.
Executive leadership at HUMANA.
Jim Rechtin
Detailed
President and Chief Executive Officer
CEO
CM
Celeste Mellet
Detailed
Chief Financial Officer
DD
David Dintenfass
Detailed
President, Enterprise Growth
GR
George Renaudin
Detailed
President, Insurance
JM
Japan Mehta
Detailed
Chief Information Officer
MO
Michelle O’Hara
Detailed
Chief Human Resources Officer
SS
Sanjay Shetty
Detailed
President, CenterWell
Board of directors at HUMANA.
DF
David Feinberg
Detailed
Director
FD
Frank D’Amelio
Detailed
Director
GS
Gordon Smith
Detailed
Director
JG
John Garratt
Detailed
Director
JM
Jorge Mesquita
Detailed
Director
KK
Karen Katz
Detailed
Director
KH
Kurt Hilzinger
Detailed
Chairman of the Board
MK
Marcy Klevorn
Detailed
Director
RB
Raquel Bono
Detailed
Director
WF
Wayne Frederick
Detailed
Director
Research analysts who have asked questions during HUMANA earnings calls.
AH
Ann Hynes
Mizuho Financial Group
8 questions for HUM
Also covers: ACHC, ARDT, BTSG +21 more
Joshua Raskin
Nephron Research
8 questions for HUM
Also covers: AIRS, BKD, CI +13 more
JL
Justin Lake
Wolfe Research, LLC
8 questions for HUM
Also covers: AGL, CI, CNC +8 more
Andrew Mok
Barclays
6 questions for HUM
Also covers: ACHC, ADUS, AGL +21 more
Benjamin Hendrix
RBC Capital Markets
6 questions for HUM
Also covers: ACHC, ADUS, AHCO +25 more
Whit Mayo
Leerink Partners
6 questions for HUM
Also covers: ACHC, AHCO, ALHC +12 more
AR
A.J. Rice
UBS Group AG
5 questions for HUM
Also covers: ACHC, AMED, AMN +21 more
EW
Erin Wright
Morgan Stanley
5 questions for HUM
Also covers: ALGN, BTSG, CAH +19 more
RL
Ryan Langston
TD Cowen
5 questions for HUM
Also covers: ACHC, ADUS, AGL +15 more
SF
Scott Fidel
Stephens Inc.
5 questions for HUM
Also covers: ACHC, ADUS, ALHC +17 more
Elizabeth Anderson
Evercore ISI
4 questions for HUM
Also covers: AGL, ALGN, CAH +24 more
George Hill
Deutsche Bank
4 questions for HUM
Also covers: AGL, CAH, CI +16 more
KF
Kevin Fischbeck
Bank of America
4 questions for HUM
Also covers: AMN, ARDT, CCRN +9 more
LW
Lance Wilkes
Sanford C. Bernstein & Co., LLC
4 questions for HUM
Also covers: AGL, CI, CNC +4 more
Sarah James
Cantor Fitzgerald
4 questions for HUM
Also covers: ACHC, AMED, CI +15 more
Stephen Baxter
Wells Fargo
4 questions for HUM
Also covers: AGL, BTSG, CAH +11 more
AR
Albert Rice
UBS
3 questions for HUM
Also covers: ACHC, AMED, AMN +21 more
Jason Cassorla
Guggenheim Partners
3 questions for HUM
Also covers: ACHC, ARDT, CI +8 more
JG
Joanna Gajuk
Bank of America
3 questions for HUM
Also covers: ACHC, ADC, ADUS +22 more
Stephen Baxter
Wells Fargo & Company
3 questions for HUM
Also covers: AGL, BTSG, CAH +15 more
BH
Ben Hendricks
RBC Capital Markets
2 questions for HUM
Also covers: ACHC, ADUS, BKD +10 more
DW
David Windley
Jefferies Financial Group Inc.
2 questions for HUM
Also covers: CERT, CNC, CRL +15 more
MG
Matthew Gilmore
KeyBanc Capital Markets
2 questions for HUM
Also covers: ACHC, ALHC, EVH +3 more
Michael Ha
Robert W. Baird & Co.
2 questions for HUM
Also covers: AGL, ALHC, ASTH +7 more
BM
Benjamin Mayo
Leerink Partners
1 question for HUM
Also covers: ACHC, AGL, AMED +10 more
Dave Windley
Jefferies LLC
1 question for HUM
Also covers: CERT, CNC, CRL +8 more
HH
Hua Ha
Robert W. Baird & Co. Incorporated
1 question for HUM
Also covers: AGL, CNC, ELV +4 more
JK
Jason Kasarlov
Guggenheim
1 question for HUM
KF
Kevin Fishbach
Bank of America
1 question for HUM
LG
Lisa Gill
JPMorgan Chase & Co.
1 question for HUM
Also covers: AGL, CAH, CI +15 more
MH
Michael Hall
Robert W. Baird & Co. Incorporated
1 question for HUM
Also covers: MOH
MH
Michael Halloran
Baird
1 question for HUM
Also covers: AOS, CXT, DOV +19 more
Recent press releases and 8-K filings for HUM.
Humana’s CenterWell completes acquisition of MaxHealth
HUM
M&A
- CenterWell, Humana Inc.’s healthcare services division, completed the acquisition of MaxHealth from Arsenal Capital Partners and founder-shareholders on February 13, 2026; financial terms were not disclosed.
- MaxHealth operates 54 owned primary care clinics, 4 specialty/ancillary clinics and 24 affiliate clinics across West and South Florida, serving over 120,000 patients, including more than 80,000 in value-based care programs.
- MaxHealth is now owned by CenterWell Senior Primary Care, the nation’s largest senior-focused, value-based primary care provider, expanding CenterWell’s reach in key markets to deliver integrated, patient-centric care.
Feb 13, 2026, 9:15 PM
Humana’s CenterWell completes acquisition of MaxHealth
HUM
M&A
- CenterWell, the healthcare services division of Humana, completed the acquisition of MaxHealth from Arsenal Capital Partners.
- The acquisition adds a network of 82 clinics (54 owned primary care, 4 owned specialty/ancillary, 24 affiliates) and expands service to over 120,000 patients—more than 80,000 in value-based care programs.
- MaxHealth will integrate into CenterWell Senior Primary Care, reinforcing its position as the nation’s largest senior-focused, value-based primary care provider and extending its reach into new key markets.
- Financial terms of the transaction were not disclosed.
Feb 13, 2026, 9:15 PM
HUMANA reports Q4 2025 results
HUM
Earnings
Guidance Update
New Projects/Investments
- Delivered adjusted EPS of $17.14, above initial guidance of ~$16.25; full-year insurance segment benefit ratio was 90.4%.
- Medicare Advantage membership grew by ~1 million members (20%) in AEP with a 500 bp year-over-year retention improvement; expects 25% MA membership growth in 2026.
- 2026 guidance: adjusted EPS of at least $9, reflecting a $3.5 billion net Star-rating headwind; normalized individual MA pre-tax margin to double year-over-year assuming 95% of members in four-plus star plans.
- Operational and capital efficiency gains: significant improvement in 2026 admin and operating cost ratios via transformation initiatives; statutory capital requirements to rise <20% versus 40% premium growth, with debt-to-capital ratio remaining stable.
Feb 11, 2026, 1:00 PM
Humana reports Q4 2025 earnings
HUM
Earnings
Guidance Update
Management Change
- Humana delivered adjusted EPS of $17.14 in 2025, exceeding initial guidance of ~$16.25, with an insurance segment benefit ratio of 90.4%.
- Medicare Advantage membership increased by ~1 million members (20%) in AEP with a 500 bp improvement in retention; the company expects 25% MA growth in 2026.
- For 2026, Humana guides to at least $9 adjusted EPS, anticipates individual MA margins slightly below break-even and a $3.5 billion net stars headwind.
- Capital optimization initiatives will cap statutory capital requirement growth at <20% versus 40% premium expansion, supporting funding for membership growth while maintaining debt-to-capital levels.
- Aaron Martin joined as President of Medicare Advantage and will become President of Insurance upon George’s retirement.
Feb 11, 2026, 1:00 PM
Humana announces Q4 2025 results
HUM
Earnings
Guidance Update
Hiring
- Adjusted EPS of $17.14, exceeding initial guidance of ~$16.25; full-year insurance benefit ratio of 90.4%
- Medicare Advantage membership grew by 1 million (20%) in AEP; retention improved by 500 bps, with 70% of new sales from competitor switches and 75% from higher-lifetime-value channels; expect 25% MA growth in 2026
- 2026 guidance: adjusted EPS of at least $9, reflecting a $3.5 billion net Stars headwind; anticipate doubling individual MA pre-tax margin normalized for stars, with margins slightly below break-even after headwind
- Operating efficiency and capital improvements: 2026 operating cost ratio expected to decline via scale and cost initiatives; statutory capital needs to rise <20% versus 40% premium growth, offsetting >$3 billion of capital requirements, with stable debt-to-capital levels
- Leadership: Aaron Martin joined as President of Medicare Advantage and will become President of Insurance
Feb 11, 2026, 1:00 PM
Humana reports Q4 2025 results and issues 2026 guidance
HUM
Earnings
Guidance Update
- Reported 4Q25 net loss per share of ($6.61) on a GAAP basis and ($3.96) on an adjusted basis; delivered FY 2025 GAAP EPS of $9.84 and adjusted EPS of $17.14.
- Generated Q4 2025 revenues of $32.5 billion and FY 2025 revenues of $129.7 billion; Insurance segment GAAP benefit ratio was 93.1% in Q4 and 90.4% for the full year.
- Issued FY 2026 guidance of at least $8.89 GAAP EPS and at least $9.00 adjusted EPS, reflecting a Star Ratings headwind, and expects ~25% growth in individual Medicare Advantage membership.
- Achieved AEP membership growth of ~1 million members (20% increase) with retention up over 500 bps year-over-year, underpinning the projected MA membership expansion in 2026.
Feb 11, 2026, 11:40 AM
Humana issues 2026 guidance amid Medicare Advantage headwinds
HUM
Guidance Update
Profit Warning
Demand Weakening
- Humana reported a Q4 adjusted loss of $3.96 per share and full-year 2025 GAAP EPS of $9.84 (adjusted EPS $17.14).
- The company guided 2026 adjusted EPS of at least $9.00, well below the $11.92 average analyst forecast, signaling a year-over-year earnings decline.
- Management cited anticipated lower Medicare Advantage quality ratings—reducing government bonus payments—and expects ~25% growth in individual MA membership.
- To protect margins amid a medical-cost ratio near 93%, Humana plans to reprice plans and adjust benefits, reflecting an unusually conservative outlook.
Feb 11, 2026, 11:26 AM
Humana reports Q4 2025 results and 2026 guidance
HUM
Earnings
Guidance Update
- Humana reported 4Q25 GAAP net loss per share of $6.61 and Adjusted net loss per share of $3.96; for FY 2025, GAAP EPS was $9.84 and Adjusted EPS was $17.14.
- Insurance segment GAAP benefit ratio was 93.1% in 4Q25 and 90.4% for FY 2025, slightly better than guidance.
- Provided FY 2026 EPS guidance of at least $8.89 on a GAAP basis and at least $9.00 on an Adjusted basis, reflecting expected Star Ratings headwinds.
- Anticipates ~25% growth in individual Medicare Advantage membership in 2026 and continues CenterWell expansion (added 100,600 patients in 2025).
Feb 11, 2026, 11:00 AM
Humana report shows value-based care reduces hospitalizations and improves satisfaction for Medicare Advantage members
HUM
New Projects/Investments
- Value-based care arrangements led to 24.3% fewer inpatient admissions for Medicare Advantage members compared with Original Medicare in 2024.
- Humana Medicare Advantage members under value-based care experienced 13.4% fewer emergency department visits and 7.6% fewer hospital admissions versus non-value-based arrangements in 2024.
- Members in value-based care reported a 13-point higher Net Promoter Score, indicating stronger patient satisfaction.
- Humana is investing in technology and data-sharing partnerships (e.g., with Providence) to expand value-based care and enhance care coordination under upcoming CMS interoperability rules.
Feb 4, 2026, 1:45 PM
Humana adds Zynex as in-network provider
HUM
- Humana and Zynex, Inc. entered a provider agreement effective February 1, 2026, marking Zynex’s first in-network status with Humana.
- The agreement gives in-network Humana members access to Zynex’s non-invasive electrotherapy devices, including the NexWave™ pain management system.
- Humana is the second-largest provider of Medicare Advantage plans, serving nearly 20 million members across all 50 states.
- Zynex’s participation spans Humana’s Medicare-PPO, POS, Network PFFS and HMO plans, as well as multiple state Medicaid and Dual SNP programs.
Feb 4, 2026, 1:39 PM
Quarterly earnings call transcripts for HUMANA.
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