April 29, 2020 / 11:00 AM / a month ago

BRIEF-Humana Sees FY 2020 GAAP EPS $16.04 TO $16.54

April 29 (Reuters) - Humana Inc:

* HUMANA REPORTS FIRST QUARTER 2020 FINANCIAL RESULTS INCLUDING PROACTIVE ACTIONS TAKEN DURING PANDEMIC

* SEES FY 2020 GAAP EARNINGS PER SHARE $16.04 TO $16.54

* REAFFIRMS FY 2020 ADJUSTED EARNINGS PER SHARE VIEW $18.25 TO $18.75

* FY 2020 GAAP EPS EXPECTED TO BE IN A RANGE OF $16.04 TO $16.54

* REAFFIRMS FY 2020 ADJUSTED EPS GUIDANCE RANGE OF $18.25 TO $18.75 WHILE ACKNOWLEDGING INHERENT UNCERTAINTY SURROUNDING ONGOING CRISIS

* INCREASES FULL YEAR EXPECTED INDIVIDUAL MEDICARE ADVANTAGE MEMBERSHIP GROWTH TO 300,000 TO 350,000 MEMBERS

* NET FINANCIAL IMPACT OF COVID-19 WAS NOT MATERIAL TO HUMANA’S RESULTS OF OPERATIONS DURING Q1 OF 2020

* REPORTS 1Q20 EARNINGS PER DILUTED COMMON SHARE (EPS) OF $3.56 ON A GAAP BASIS

* QTRLY ADJUSTED EARNINGS PER SHARE $5.40

* QTRLY GAAP REVENUES $18,935 MILLION VERSUS $16,107 MILLION

* HUMANA - DURING SECOND HALF OF MARCH 2020, EXPERIENCED LOWER HOSPITAL ADMISSIONS & UTILIZATION AS MEMBERS, PROVIDERS BEGAN TO DEFER NON-ESSENTIAL PROCEDURES

* FOR ITS STAND-ALONE PDP BUSINESS, HUMANA CONTINUES TO ESTIMATE A NET MEMBERSHIP DECLINE OF ABOUT 550,000 MEMBERS FOR FY 2020

* FY2020 EARNINGS PER SHARE VIEW $18.44 — REFINITIV IBES DATA

* HAS SEEN TREND OF LOWER UTILIZATION PERSIST INTO Q2 OF 2020

* EXPECTS THAT DEFERRED NON-ESSENTIAL PROCEDURES WILL RETURN IN COMING WEEKS AND MONTHS

* HUMANA - DEFERRAL OF NON-ESSENTIAL PROCEDURES OFFSET BY INCREASE IN PHARMACY COSTS DUE TO DECISION TO PERMIT EARLY PRESCRIPTION REFILLS

* HUMANA - SEES CMS’ 2021 FINAL RATE NOTICE TO RESULT IN 1.20% RATE INCREASE FOR NON ESRD MEDICARE ADVANTAGE BUSINESS, EXCLUDING. EGWP FUNDING CHANGES IMPACT

* Q1 EARNINGS PER SHARE VIEW $4.68, REVENUE VIEW $18.46 BILLION — REFINITIV IBES DATA Source text for Eikon: Further company coverage:

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