Humana Inc. HUM, the healthcare company that specializes in Medicare insurance, said Wednesday it had net income of $1.614 billion, or $9.87 a share, in the first quarter, up from $1.220 billion, or $7.29 a share, in the year-earlier period. Adjusted per-share earnings came to $9.38, ahead of the $9.27 FactSet consensus. Revenue rose to $26.742 billion from $23.970 billion, also ahead of the $26.428 billion FactSet consensus. The company said it has adjusted year-earlier numbers to reflect the exit of the employer group commercial medical products business, which it announced on Feb. 23. “We’ve had a strong start to the year, with our outperformance underpinned by strong membership growth and favorable inpatient utilization trends in our individual Medicare Advantage business,” CEO Bruce D. Broussard said in a statement. The company is now expecting its full-year EPS to come to at least $27.88. It expects adjusted EPS of at least $28.25, ahead of the $28.11 FactSet consensus. The stock is down 2% in the year to date, while the S&P 500 SPX has gained 6%.
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