HUMANA INC is expected to release its Q3 2026 10-Q filing in the upcoming earnings season. Last quarter: In 2026-Q2, Humana Inc. achieved total revenue of $40.87B, up 26.2% YoY, and diluted EPS of $5.73, driven by strong Medicare Advantage enrollment growth despite benefit ratio headwinds from Star Ratings and medical claims trends.
Drawn from management commentary in the Q2 2026 10-Q:
Total medical membership grew 20.7% YoY to 17.91M as of June 30, 2026, led by a 23.4% increase in individual Medicare Advantage members to 6.45M and a 62.6% surge in Medicare stand-alone PDP members to 3.95M. This expansion drove quarterly consolidated premiums revenue up 26.4% YoY to $38.83B.
Humana acquired primary care platform MaxHealth on February 13, 2026, for $908M net of cash acquired ($800M allocated to goodwill). Driven by primary care expansion, CenterWell external services revenue rose 32.4% YoY to $1.58B for 2026-Q2.
The consolidated benefit ratio increased by 140 basis points YoY to 91.1% in 2026-Q2 due to Star Ratings revenue headwinds and new member claim profiles. Conversely, the operating cost ratio improved 120 basis points YoY to 9.8%, reflecting operational leverage and administrative efficiency initiatives.
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