Humana (HUM) Issues FY26 Adj. EPS Well Below Estimates

Humana (HUM) reported first-quarter adjusted earnings per share of $1.05, missing estimates of $1.24 by $0.19, on February 11, 2026. Revenue declined 3.2% to $33.7 billion, driven by lower enrollment growth and higher pharmacy benefit costs. The company attributed the shortfall to continued pressure from the managed care and pharmacy benefit segments, with guidance for full-year 2026 adjusted EPS of $3.65, below the average analyst forecast of $3.91. The stock closed at $74.35, down 2.8% on the day.