Humana Inc. reported Wednesday first-quarter profit and revenue that rose above expectations, boosted by strong individual Medicare Advantage and state-based contract membership growth. The health insurance services company’s stock was still inactive in premarket trading. Net income rose to $1.04 billion, or $6.39 a share, from $717 million, or $3.56 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share grew to $7.67 from $5.40, and beat the FactSet consensus of $7.07. Revenue increased 9.2% to $20.67 billion, above the FactSet consensus of $20.49 billion. The company affirmed its 2021 guidance ranges for adjusted EPS of $21.25 to $21.75 and its individual Medicare Advantage membership growth of 425,000 to 475,000. The FactSet consensus for 2021 EPS is $21.54. The stock has gained 9.4% year to date, while the S&P 500 has advanced 11.5%.
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