Humana Inc. reported a significant quarterly loss, with an adjusted EPS of a $0.11 loss compared to the expected $1.82 and a revenue of $26.46 billion, surpassing the $25.41 billion forecast. Humana's stock price fell to $360, tumbling by 17% as the quarterly loss widened due to soaring medical costs. Additionally, the company revised its 2024 adjusted EPS guidance to about $16.00, well below the expected $29.18, and is now forecasting a 90% medical loss ratio (MLR) for the full year. The insurance giant's poor financial performance has led to considerable options trading activity, with one trader's $240k investment in Humana puts increasing in value to $10.3 million. The stock continues to decline, with a nearly 14% drop in one day, amid reports of 'unprecedented' medical care usage by older adults, particularly affecting Humana’s Medicare Advantage business.
"Over the past several years, the medical industry has eroded the ACA’s guarantees, finding ways to bill patients in gray zones of the law," @RosenthalHealth writes. https://t.co/aOSRQDTvjq
This morning 🌄 our group discussed Humana $HUM EPS guidance at $16, down from $29 Imagine how scared holders of all the peers are right now with rising cost concerns...
This morning 🌄 our group discussed Humana $HUM EPS guidance at $16, down from $29 Imagine how scared holders of all the peers are right now with rising coat concerns...
Heard on the Street: America’s seniors are going to keep up their elevated use of the medical system throughout the year. That message from Humana’s earnings release sent stocks of insurance giants sliding. https://t.co/AL4X8dyZz3
Humana’s Medicare Advantage business is faring even worse than the company let on last week, with “unprecedented” numbers of older adults getting medical care. https://t.co/JEqat36954
Humana’s $HUM bad day in the market, provides yet another truth bomb about health insurance. To get prices under control, we need a boost in the supply of health CARE. Listen: https://t.co/kbOzi9WLt5
$HUM continues to drop, down almost 14% today! #options #UOA #smartmoney #puts #optionstrading https://t.co/ohkzDmFL6T
$HUM was probably holding out for $600, and being super difficult, all the while watching its business collapse in real-time. Now at $360. https://t.co/Xe73q2VbI8
🚨 MASSIVE TRADE HIT 🚨 Yesterday, a trader invested $240k in $HUM puts. One day later, those puts are worth $10.3 MILLION 🤯🤯🤯 #UnusualActivity #Options #Stocks https://t.co/TSzHW1M8zq
Whooaaaa Humana is down another huge gap premarket on Q4 earnings. Must be a juicy earnings call. No wonder why they were trying to sell?? https://t.co/4QL2f1ggln
Seems $HUM did not get all the bad news out last week. Sinking another 15% after lowering 2024 guidance and now forecasting 90% MLR for the full year. https://t.co/fGEUeZEQBp
$HUM Humana with more detail on the disappointing FY guidance. -14% premkt https://t.co/F7br15wsvr
Humana’s stock tumbles 17% as quarterly loss widens amid soaring medical costs https://t.co/mfuepIcb2Q
$HUM getting crushed on results, weekly 387.5 and 385 puts going to score big https://t.co/II5HKb054U
$HUMA | Humana Q4 23 Earnings: - Adj EPS: Loss $0.11 (exp $1.82) - Revenue: $26.46B (exp $25,41B) - Sees 2024 Adj EPS About $16.00 (exp $29.18)
Opinion by Elisabeth Rosenthal: The Affordable Care Act guaranteed preventive care at no cost to patients. Medical billers have found creative ways to get you to pay anyway. https://t.co/vzh9a8Icvv
More gaslighting. Obamacare destroyed the private insurance market, stripped millions of their healthcare plans and sent premiums through the roof. https://t.co/wLqoy87HZq