The company said net income attributable to Humana was $0.5 billion ($3.98 per diluted share) for Q3 2024, compared with $0.8 billion ($6.71) for Q3 2023. Net income for the 9-month period totaled $1.9 billion ($15.72), versus $3.0 billion ($24.26) a year earlier.

10-QQuarterly reportFiled Oct 30, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said net income attributable to Humana was $0.5 billion ($3.98 per diluted share) for Q3 2024, compared with $0.8 billion ($6.71) for Q3 2023. Net income for the 9-month period totaled $1.9 billion ($15.72), versus $3.0 billion ($24.26) a year earlier.
Humana said its consolidated benefit ratio rose 330 basis points, from 86.6% in Q3 2023 to 89.9% in Q3 2024. The company cited the continued impact of elevated medical cost trends in Medicare Advantage and state-based contracts.
Operating cash flow for the 9-month period in 2024 was $3.5 billion, down $7.6 billion from $11.1 billion for the 9-month period in 2023, the company said. It attributed the decline to the early receipt of the Medicare premium remittance of $7.1 billion in September 2023.
The company said it issued senior unsecured notes due March 2024 of $1.25 billion and $1.00 billion, generating net proceeds of $2.23 billion. It also said it paid $750 million for share repurchases and $323 million in dividends over the 9-month period in 2024.

Key figures

Quarter ended September 30, 2024

Revenue: $29.4B
Operating income: $728M
Net income: $480M
EPS: $3.98

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net Income and Diluted Earnings per Share

The company said net income attributable to Humana was $0.5 billion ($3.98 per diluted share) for Q3 2024, compared with $0.8 billion ($6.71) for Q3 2023. Net income for the 9-month period totaled $1.9 billion ($15.72), versus $3.0 billion ($24.26) a year earlier.

Source · Based on the MD&A text of the filing

Benefit Ratio and Medical Cost Trends

Humana said its consolidated benefit ratio rose 330 basis points, from 86.6% in Q3 2023 to 89.9% in Q3 2024. The company cited the continued impact of elevated medical cost trends in Medicare Advantage and state-based contracts.

Source · Based on the MD&A text of the filing

Operating Cash Flow Comparison

Operating cash flow for the 9-month period in 2024 was $3.5 billion, down $7.6 billion from $11.1 billion for the 9-month period in 2023, the company said. It attributed the decline to the early receipt of the Medicare premium remittance of $7.1 billion in September 2023.

Source · Based on the MD&A text of the filing

Senior Notes Issuance and Capital Returns

The company said it issued senior unsecured notes due March 2024 of $1.25 billion and $1.00 billion, generating net proceeds of $2.23 billion. It also said it paid $750 million for share repurchases and $323 million in dividends over the 9-month period in 2024.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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