Humana Inc. (NYSE: HUM) reported its first-quarter financial results on Wednesday. Shares of the company 2% in premarket trading today.
According to the company, total revenue was up from $13.76 billion to $14.28 billion, which beat analysts’ estimates of $14.16 billion.
Net income for the first quarter was reported to be $707 million, or $3.53 per share, dropping from $1.69 billion, or $7.49 per share, for the same period last year. The company reported adjusted earnings per share of $3.36 per share, which surpassed analysts’ expectation of $3.19 per share.
In the statement, the company also raised its guidance for full year 2018. Adjusted earnings per share was expected to be in the range of $13.70 to $14.10 per share, compared with the previous guidance of $13.50 to $14.00 per share. Earnings per share is now expected to be between $13.54 and $13.94 per share, which increased from the expectation of $13.16 to $13.66 per share.
“We’re pleased that we continue to consistently deliver strong financial results, while advancing our health and consumer-focused strategy,” Bruce D. Broussard, the President and Chief Executive Officer of Humana, said on Wednesday.
“It really comes down to the consistency of our operating model, which has enabled us to perform well in all parts of our business. This shows up in our earnings results, in the trajectory of our membership growth, and also in the strength of our brand as we continue to make great strides in improving the experience of our members as evidenced by the increase in our NPS and also our top ranking among insurers in Temkin’s customer satisfaction survey,” Bruce continued.