5 Latest Earnings That Surprised Wall Street

3. Humana Inc. (NYSE:HUM)

Number of Hedge Fund Holders: 69

Humana Inc. (NYSE:HUM) announced better-than-expected financial results for the third quarter, as the health insurer took advantage of lower medical costs. The company reported adjusted earnings of $6.88 per share, significantly higher than $4.83 per share in the year-ago period and above estimates of $6.28 per share.

Revenue for the quarter increased to $22.75 billion, from $20.69 billion in the corresponding period of 2021. Analysts expected Humana Inc. (NYSE:HUM) to generate revenue of $22.69 billion.

For the full year, Humana Inc. (NYSE:HUM) projected adjusted earnings of around $25 per share, representing a growth of 21 percent over fiscal 2021.

Commenting on the quarter, CEO Bruce D. Broussard said:

“We are pleased with our third quarter results and the strong performance across all of our businesses. “Humana is well positioned for the 2023 Medicare Advantage Annual Election Period, with plans designed to meet customers’ affordability and healthcare needs, especially important given the current economic conditions and knowing many seniors are on fixed incomes.”