Humana earnings date and guidance
Humana's next results are expected on November 6, 2026. Watch whether medical costs, the benefit ratio and adjusted earnings follow management's outlook.
What has Humana guided for 2026?
Humana’s path runs from a weighted $361.59 in October 2027 to $548.85 in October 2029, and hinges on medical-cost control, recovering margins and ratings-related earnings. Management promises a FY 2026 adjusted EPS floor of $9.00, a GAAP EPS floor of $6.52 and at least a 3.0% individual Medicare Advantage pre-tax margin in 2028. Its third-quarter outlook calls for adjusted EPS of approximately negative $1.00 and an Insurance benefit ratio slightly above 94%.
| Period it covers | Low | High | Date it was given | |
|---|---|---|---|---|
| Diluted earnings per common share (EPS) — GAAP | FY 2026 | 6.52 | Sep 1, 2026 | |
| Adjusted EPS | FY 2026 | 9.00 | Oct 9, 2026 | |
| Adjusted EPS — third quarter | Quarter to Sep 2026 | -1.00 | -1.00 | Jul 29, 2026 |
| Insurance segment benefit ratio — third quarter | Quarter to Sep 2026 | 94.0% | Jul 29, 2026 | |
| Individual Medicare Advantage sustainable pre-tax margin | FY 2028 | 3.0% | Jul 29, 2026 |
Did Humana keep its past promises?
An older 2023–2025 award made adjusted EPS 70% of its formula. Humana reported 2025 adjusted EPS of $17.14, below that award’s threshold, so the EPS portion paid zero. Yet the result exceeded earlier guidance of approximately $16.25. Guidance is a forecast; an award threshold is a separate hurdle. Strategic measures reached their maximum, but the relative-TSR modifier left the overall payout at 48% of target.
What do Humana's last eight quarters show?
Premium revenue rose even as individual MA membership fell. Humana attributed that increase partly to higher premiums, larger Part D subsidies under the Inflation Reduction Act, and growth in drug and state businesses. CenterWell Primary Care also added patients, but acquisitions drove much of that increase. The results table separates revenue and earnings; the insurer’s own measures show which kinds of members produced them.
In the second quarter of 2026, adjusted pretax results were $1,248 million, compared with $1,017 million a year earlier. Net income rose to $694 million from $545 million, and diluted EPS reached $5.73 from $4.51. Adjusted pretax results are management’s measure; net income follows GAAP; EPS divides the result among diluted shares.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Adjusted pretax results (company's measure) | 1,248 | 1,670 | -596 | 527 | 1,017 | 1,893 | -296 | 679 |
| Net income | 694 | 1,186 | -796 | 195 | 545 | 1,244 | -693 | 480 |
| EPS, diluted | 5.73 | 9.83 | -6.61 | 1.62 | 4.51 | 10.30 | -5.76 | 3.98 |
What should you watch in Humana's next results?
Enrollment will show whether better ratings and plan designs actually retain or attract members. The November 6, 2026 third-quarter report will show whether medical costs, the benefit ratio, and adjusted earnings followed management’s outlook.