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Humana beats 2nd-quarter Wall Street estimates

Mon, 08/01/2011 - 2:45am
The Associated Press

Humana says its second-quarter profit rose by 35 percent as the health insurer reported enrollment gains in its Medicare plans.

The Louisville-based company on Monday raised its earnings forecast for the year to a range of $7.50 to $7.60 per share, up from $6.70 to $6.90 per share.

Humana also reported growth in its health and well-being services segment from its acquisition of health care company Concentra Inc.

For the three months ended June 30, Humana earned $460.3 million, or $2.71 per share. That compares to nearly $340.1 million, or $2 per share, last year. Revenue in the just-ended quarter totaled $9.28 billion.

Adjusted income was $2.50 per share.

The performance beat Wall Street forecasts. Analysts polled by FactSet predicted earnings per share of $2.05 on $9.28 billion in revenue.

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