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Summary Box: Humana's 3Q profit rises 30 percent

Mon, 11/01/2010 - 10:45am
The Associated Press

THE RESULTS: Managed care company Humana Inc. said Monday its third-quarter profit climbed 30 percent to $393.2 million, or $2.32 per share. Revenue rose 9 percent to $8.42 billion.

THE REASONS: The Louisville, Ky., insurer said Medicare Advantage enrollment climbed 17 percent in the quarter and commercial health care use dropped. It recorded a benefit totaling 31 cents per share because claims leftover from previous quarters came in lower than expected.

GREATER EXPECTATIONS: Humana said it now expects 2010 earnings between $6.40 and $6.50 per share, up from a previous forecast of $5.65 to $5.75. Analysts predict $6.42 per share.

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