Humana Inc. on Wednesday posted revenue and profit growth for the first quarter of 2021 amid improved results from its retail and healthcare-services segments.
The Louisville, Ky.-based health insurer posted earnings of $6.39 a share, up from $3.56 a share in the first quarter of 2020.
On an adjusted basis, Humana's profit was $7.67 a share. Analysts were forecasting an adjusted profit of $7.08 a share, according to FactSet
Humana's revenue climbed to $20.67 billion, from $18.94 billion in last year's first quarter. Analysts had expected revenue of $20.49 billion.
The growth was attributable to strong membership gains in individual Medicare Advantage plans as well as growth in state-based contract membership, the company said. Profitability improved in Humana's group-and-specialty segment, as well as in its healthcare-services segment.
Humana maintained its previously issued adjusted-earnings guidance of $21.25 a share to $21.75 a share for 2021.
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