Humana (HUM) official guidance

Humana affirms its guidance of at least $9.00 in adjusted earnings per common share (“Adjusted EPS”), for the year ending December 31, 2026 (“FY 2026”).

During these meetings, the Company intends to reaffirm its guidance of at least $6.52 in diluted earnings per common share (“EPS”) or at least $9.00 in adjusted earnings per common share (“Adjusted EPS”), in each case for the year ending December 31, 2026 (“FY 2026”).

Humana revises its GAAP EPS guidance for the year ending December 31, 2026 (FY 2026) to 'at least $6.52' from 'at least $8.36', while affirming its Adjusted EPS guidance of 'at least $9.00'.

During these meetings, the Company intends to reaffirm its guidance of at least $8.36 in diluted earnings per common share (“EPS”) or at least $9.00 in adjusted earnings per common share (“Adjusted EPS”), in each case for the year ending December 31, 2026 (“FY 2026”).

Humana revises its GAAP EPS guidance for the year ending December 31, 2026 (FY 2026) to 'at least $8.36' from 'at least $8.89', while affirming its Adjusted EPS guidance of 'at least $9.00'.

Members of Humana Inc.’s (the “Company”) senior management team are scheduled to meet with investors and analysts at various meetings between March 2, 2026 and March 31, 2026. During these meetings, the Company intends to reaffirm its guidance of at least $8.89 in diluted earnings per common share (“EPS”) or at least $9.00 in adjusted earnings per common share (“Adjusted EPS”), in each case for the year ending December 31, 2026 (“FY 2026”).

We expect full-year adjusted EPS of at least $9, with the anticipated year-over-year decline driven by the previously communicated bonus year 2026 Stars headwind net of mitigation.

Humana introduces its GAAP EPS guidance for the year ending December 31, 2026 (FY 2026) of 'at least $8.89', or 'at least $9.00' on an Adjusted basis.

Humana revises its GAAP EPS guidance for the year ending December 31, 2026 (FY 2026) to 'at least $6.52' from 'at least $8.36', while affirming its Adjusted EPS guidance of 'at least $9.00'.

During these meetings, the Company intends to reaffirm its guidance of at least $8.36 in diluted earnings per common share (“EPS”) or at least $9.00 in adjusted earnings per common share (“Adjusted EPS”), in each case for the year ending December 31, 2026 (“FY 2026”).

Humana revises its GAAP EPS guidance for the year ending December 31, 2026 (FY 2026) to 'at least $8.36' from 'at least $8.89', while affirming its Adjusted EPS guidance of 'at least $9.00'.

Members of Humana Inc.’s (the “Company”) senior management team are scheduled to meet with investors and analysts at various meetings between March 2, 2026 and March 31, 2026. During these meetings, the Company intends to reaffirm its guidance of at least $8.89 in diluted earnings per common share (“EPS”) or at least $9.00 in adjusted earnings per common share (“Adjusted EPS”), in each case for the year ending December 31, 2026 (“FY 2026”).

Humana introduces its GAAP EPS guidance for the year ending December 31, 2026 (FY 2026) of 'at least $8.89', or 'at least $9.00' on an Adjusted basis.

Our outlook on PY 2028 Stars has not changed. We continue to be confident that we're on the right track to return to top quartile Stars results in PY 2028.

We continue to be confident that we are on the right track to return to top quartile Stars results in BY28.

While we now have 45% of members in four-plus star plans for 2026, our expected membership base will also be 25% higher due to the 2026 member growth, which includes strong retention.

All in, after accounting for the 2026 Stars headwind, our initial guidance assumes individual MA margins are slightly below break-even.

But in aggregate, we continue to expect that our margin for individual MA, excluding Stars World double in 2026 over 2025, and then we'll continue to make progress in 2026.

Based on all information available to date, the Company remains confident in its 2026 Individual MA pricing and benefit design, including the expectation that it will double individual MA pre-tax margin in 2026 (excluding Stars), and believes it is positioned to return to membership growth in 2026.

We expect to make the necessary progress towards that goal in 2027.

Right now, second headline, we are turning our attention to bids, and we are approaching bids with a focus on returning to a sustainable margin of at least 3% in 2028 and making progress against that in 2027.

•1Q26 Insurance segment GAAP benefit ratio of 89.4 percent, slightly favorable to management’s guidance of 'just under 90 percent'; affirms FY 2026 Insurance segment benefit ratio guidance of 92.75 percent, plus or minus 25 basis points

•Affirms FY 2026 individual Medicare Advantage (MA) membership growth of 'approximately 25 percent' over 2025; driven by new sales and improved retention from the company's customer-led benefit strategy and changes to its customer service approach

When we look at full year 2026, we do anticipate individual MA membership growth of approximately 25%.

Anticipates FY 2026 individual Medicare Advantage membership growth of 'approximately 25 percent' over 2025; driven by new sales and improved retention from the company's customer-led benefit strategy and changes to its customer service approach

Based on all information available to date, the Company remains confident in its 2026 Individual MA pricing and benefit design, including the expectation that it will double individual MA pre-tax margin in 2026 (excluding Stars), and believes it is positioned to return to membership growth in 2026.

We remain confident in the overall assumptions used in our 2026 pricing. As a result, we continue to anticipate doubling individual MA pre-tax margin in 2026, normalizing for stars, meaning if 95% of our members were in four-plus star plans consistent with 2025, we would see a doubling of individual MA margin in 2026.